ChemGenex acquires leukaemia drug outright
Wednesday, 11 June, 2008
ChemGenex (ASX: CXS) has bought the rights to the drug omacetaxine the drug omacetaxine mepesuccinate outright from Stragen Pharma, meaning the company can now sell the drug directly in Europe.
The deal negates the need for ChemGenex to offer royalty payments on sales of the drug, which was developed partly using Stragen intellectual property.
Stragen will acquire over 37 million ChemGenex shares as payment.
Omacetaxine is a treatment for patients with chronic myeloid leukaemia with the T315I mutation.
There is currently no commercially available treatment for this form of leukaemia, but ChemGenex is about to wrap up its phase II/III trial of omacetaxine.
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