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Ergomed’s co-development partner Aeterna Zentaris, Inc. announces a fourth licensing agreement for Zoptrex™, this time with Specialised Therapeutics Asia for Australia and New Zealand
Ergomed plc (LSE: ERGO) (‘Ergomed’ or ‘the Company’), a profitable UK-based group dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, announces that its co-development partner, Aeterna Zentaris, Inc. (NASDAQ:AEZS, TSX:AEZ), has signed an additional licensing agreement for Zoptrex™.
On 12 October 2016, Aeterna Zentaris signed an exclusive license agreement with Specialised Therapeutics Asia (“STA”) for its lead anti-cancer compound, Zoptrex™, for the territories of Australia and New Zealand for an upfront payment plus milestones and royalties. In line with Ergomed’s co-development agreement with Aeterna Zentaris, the Company will receive a portion of all revenues generated from the commercialisation of the product.
Zoptrex™, a novel synthetic peptide carrier linked to doxorubicin, is currently in a fully-enrolled Phase 3 clinical trial in endometrial cancer. Aeterna Zentaris will, if the results of the trial warrant doing so, submit a new drug application for Zoptrex™ to the United States Food and Drug Administration (FDA) in 2017. Zoptrex™ is the proposed tradename for zoptarelin doxorubicin. The proposed tradename is subject to approval by the FDA.
Dr. Miroslav Reljanovic, Chief Executive Officer of Ergomed, said:
“This licensing agreement for Australia and New Zealand adds another two territories to the overall coverage now for Zoptrex™ and demonstrates the value of our co-development business. In line with our strategy to expand our co-development business, we also recently announced a new partnership which together with this licensing agreement, further validates our hybrid business model.”
This statement is not regarded as disclosure of price sensitive information and the Company’s guidance for the Group’s financial performance remains unchanged.
Ergomed plc Tel: +44 (0) 1483 503205
Miroslav Reljanovic (Chief Executive Officer)
Stephen Stamp (Chief Financial Officer)
Numis Securities Limited Tel: +44 (0) 20 7260 1000
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black (Joint Broker)
Stifel Nicolaus Europe Limited Tel: +44 (0) 20 7710 7600
Jonathan Senior (Joint Broker)
FTI Consulting – for UK enquiries Tel: +44 (0) 20 3727 1000
Simon Conway / Mo Noonan
MC Services AG – for Continental European enquiries Tel: +49 (0) 211 52925222
Ergomed plc is a profitable UK-based business providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 50 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 100 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. Lastly, Ergomed recently acquired a pipeline of proprietary development products for haemostasis in surgical settings. For further information, visit: http://ergomedplc.com.
Forward Looking Statements
Certain statements contained within the announcement are forward looking statements and are based on current expectations, estimates and projections about the potential returns of Ergomed plc (“Ergomed”) and industry and markets in which Ergomed operates, the Directors’ beliefs and assumptions made by the Directors. Words such as “expects”, “anticipates”, “should”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “projects”, “pipeline” and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties, outcomes of negotiations and due diligence and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Among the factors that could cause actual results to differ materially are: the general economic climate, competition, interest rate levels, loss of key personnel, the result of legal and commercial due diligence, the availability of financing on acceptable terms and changes in the legal or regulatory environment. These forward-looking statements speak only as of the date of this announcement. Ergomed expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in Ergomed’s expectations with regard thereto, any new information or any change in events, conditions or circumstances on which any such statements are based, unless required to do so by law or any appropriate regulatory authority.