Callisto and Genzyme amend Atiprimod deal
The USA's Callisto Pharmaceuticals, a developer of new drugs for cancer and gastrointestinal diseases, has restructured its license agreement with biotechnology major Genzyme for Atiprimod (azaspirane), the former's lead candidate, designed to treat advanced carcinoid cancer.
In August 2002, Callisto's wholly-owned subsidiary, Synergy, acquired worldwide exclusive rights to develop, manufacture and commercialize Atiprimod from Canadian drugmaker AnorMed, which was acquired by Genzyme two years ago (Marketletter October 23, 2006). The restructured agreement eliminates all milestone payments and reduces royalties owed to Genzyme to single digits. In return for the reduced future payments, Callisto is paying an undisclosed upfront fee this year.
Gabriele Cerrone, chairman of Callisto, said: "we recently completed enrollment in a Atiprimod Phase II trial in advanced carcinoid cancer patients and we expect to complete an interim analysis of the data by the end of the first quarter of this year."
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