MGI and SuperGen sign deal for Dacogen

12 September 2004

MGI Pharma and SuperGen have signed an agreement granting the formerexclusive worldwide rights to the development, manufacture, commercialization and distribution of the latter's Dacogen (decitabine), an anticancer therapeutic under evaluation for the treatment of patients with myelodysplastic syndromes.

Under the terms of the accord, MGI will make a $40 million equity investment in SuperGen at $10 per share and will pay the latter up to $45 million in milestones. SuperGen will continue with its filings for Dacogen in the USA and Europe with assistance from MGI and will also receive a royalty on worldwide net sales, starting at 20% and increasing to a maximum of 30%. MGI is also committed to fund further development costs associated with Dacogen, at a minimum of $15 million. No other details of the agreement were disclosed.

The US Food and Drug Administration recently granted SuperGen's request for a rolling New Drug Application filing for Dacogen (Marketletter May 3).

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