Drug-Eluting Beads Agreement with Eisai Co. Ltd
16/05/2008
Biocompatibles International plc (LSE:BII) is pleased to announce the signing of an agreement with Eisai Co. Ltd. (TSE: 4523.JP) in respect of Biocompatibles’ Drug-Eluting Bead Products in Japan.
Biocompatibles has granted Eisai an exclusive twelve month option to license the Drug-Eluting Bead Products in Japan. During the option period, Eisai will explore the regulatory and clinical requirements for product approval. If the option is exercised, Eisai will be responsible for the clinical, regulatory, reimbursement and commercial activities required to market the Drug-Eluting Bead Products. The Drug-Eluting Bead Products would be marketed through Eisai’s direct sales force and network of distributors.
If Eisai exercises the option, it will pay Biocompatibles a fee on the signing of a licence and supply agreement. Additional consideration is payable on the achievement of reimbursement and sales milestones. Following regulatory approval, Biocompatibles will supply Eisai with manufactured products at cost and will receive a double-digit royalty on net sales.
The Drug-Eluting Bead products have been extensively evaluated in more than nine clinical trials in Hepatocellular Carcinoma (HCC), the leading type of primary liver cancer. The results of four of these trials have now been reported in peer-reviewed publications.
There are approximately 40,000 new cases and 34,000 deaths attributable to HCC in Japan each year. HCC is the fifth most common cancer amongst Japanese patients but the third highest cause of cancer deaths.
Crispin Simon, Chief Executive of Biocompatibles, said “This is a valuable endorsement of our technology, Eisai is large pharmaceutical company and they are committing significant resources behind our products for Japan where HCC is highly prevalent.”
-ends-
About Eisai Co. Ltd.
Eisai Co., Ltd. is a research-based human health care (hhc) company that discovers, develops and markets products throughout the world. Eisai focuses its efforts in three therapeutic areas: integrative neuroscience, including neurology and psychiatric medicines; gastrointestinal disorders; and integrative oncology, including oncotherapy and supportive-care treatments. Through a global network of research facilities, manufacturing sites and marketing affiliates, Eisai actively participates in all aspects of the worldwide healthcare system. Eisai announced group sales of 734 billion yen in FY2007. More than 50% of the group sales are derived from businesses outside of Japan.
In this section: