Market Report -- In Play (SPPI)

November 23, 2009 7:01 AM ET

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Spectrum Pharma and Handok Pharmaceuticals announce collaboration agreement for Apaziquone in South Korea; total deal value could exceed $19 mln Co announces a collaboration for the development and commercialization of apaziquone in South Korea. Apaziquone is an antineoplastic agent currently being investigated for the treatment of non-muscle invasive bladder cancer by intravesical instillation. SPPI has previously entered into a strategic collaboration with Allergan (AGN) for North America, Europe, and other key markets and Nippon Kayaku Co., Ltd. for Asian countries excluding South Korea. Under the terms of the agreement, Handok will pay Spectrum an upfront payment and potential milestone payments totaling over $19MM. The potential milestones will be based on the achievement of certain regulatory and commercialization milestones. Handok received rights to apaziquone for the treatment of non-muscle invasive bladder cancer in South Korea. Handok will conduct the apaziquone clinical trials pursuant to a development plan and will be responsible for all expenses relating to the development and commercialization of apaziquone in South Korea.

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