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SuperGen will make an equity investment giving it a minority interest in Galenica, as well as payments based on milestones achieved by Galenica during the collaboration.
SuperGen obtains exclusive worldwide rights to anticancer drugs discovered under Galenica's program with the Peruvian University of Cayetano Heredia (UPCH) to screen plants in Peru's rain forest, mountain and coastal regions for therapeutic biological activity. Supergen also gains rights of first refusal to drug candidates for prostate and colon cancer being developed in other Galenica programs.
SuperGen will be responsible for clinical development and commercialization efforts following mechanism of action and safety studies by Galenica for promising anticancer drug candidates. Galenica also will receive a royalty payment on all eventual product sales by SuperGen.
According to published reports, approximately 25 percent of all prescription drugs in the United States contain a plant-derived compound, yet less than two percent of the world's higher plant species have been studied exhaustively for therapeutic value.
Galenica and UPCH use indigenous "folk medicine" knowledge and bioassays together with chemical analysis in their search for plant-derived bioactive compounds. Numerous plants used in indigenous medicine have been collected and identified and are being studied in the program.
"SuperGen is the ideal complement as a partner for our anticancer efforts," said Dr. Dante Marciani, chief executive officer of Galenica. "Our focus is on the vast potential of plant-based drug discovery and adjuvant development. Their focus is at the clinical level, and they have become a commercial presence in the U.S. oncology market."
"We are absolutely committed to expanding our portfolio of anticancer drugs, especially in the area of prostate cancer, and building on our philosophy of making strategic investments in myriad potential sources of future products," said Dr. Joseph Rubinfeld, chief executive officer of SuperGen. "We are excited about the possibilities we see in Galenica's novel adjuvant technologies, natural product approach and expertise. Our goal is that this collaboration will add SuperGen drugs to the impressive list of blockbusters already derived from plant-based compounds."
Based in Emeryville, SuperGen is an emerging pharmaceutical company dedicated to the development and commercialization of products intended to treat life-threatening diseases, particularly cancer and blood cell disorders, as well as other serious conditions such as obesity.
SuperGen is developing its anticancer portfolio of 10 generic products and five enhanced or "supergeneric" products. Blood cell disorder products under development currently target anemias associated with chemotherapy and radiotherapy, renal failure and aplastic anemia. The company's obesity pill currently is in Phase II human clinical trials.
Galenica Pharmaceuticals Inc. is an emerging biopharmaceuticals company based in Frederic, Md. The company is developing preventative and therapeutic pharmaceuticals based on natural products. Galenica's initial product focus is on its proprietary adjuvants for use in vaccines, for both the animal and human health markets.
Galenica's Adjuvant Program is developing novel synthetic and semi-synthetic immunotherapeutics for cancer, viral infections and other indications in conjunction with its academic collaborators. In a program with the Peruvian University of Cayetano Heredia in Lima, Galenica is screening natural products for anticancer, wound healing and antibacterial activity.
The privately held company was founded by Dr. Dante Marciani, who previously was the first chief scientist at Cambridge Biotech Corp., where he developed the following products: QS-21 (Stimulon), considered the be the "gold standard" adjuvant, now in Phase III clinical trials; the world's only commercial serololgical recombinant HIV test; and the only commercial recombinant subunit vaccine against a retrovirus.
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CONTACT: SuperGen Inc., Emeryville Les Stickles, 510/655-1075 x210 or Galenica Pharmaceuticals Inc., Frederick David Vigor, 908/781-6433
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