Spectrum gets world rights to ortataxel

California, USA-based Spectrum Pharmaceuticals and Italy's Indena SpA have entered into a worldwide license agreement for ortataxel, a third-generation taxane classified as a New Chemical Entity that has demonstrated clinical activity in taxane-refractory tumors. Under the terms of the accord, Spectrum will make an upfront payment plus regulatory and sales milestones, and royalties on future net sales to Indena, which discovered ortataxel. Further financial details were not disclosed.

"Ortataxel has demonstrated activity in taxane-refractory tumors in Phase II trials, and has shown oral bioavailability. It is a perfect fit for our risk-reduced business model, as we further strengthen our diversified portfolio with late-stage drugs and continue to add value to our company," said Rajesh Shrotriya, chief executive of Spectrum. "We believe that with further clinical development, ortataxel could be an effective treatment option within the multi-billion dollar taxane market," he added.

Commenting the news, Dario Bonacorsi, president and CEO of Indena, said: "we are proud of this agreement that confirms the success of one of our research lines dedicated to the discovery of NCEs in the anticancer area. We trust Spectrum's expertise and knowledge for the further study of the product and taking it to the market."