Astellas, Medivation Enter Into Worldwide Agreement

Published: 27-Oct-2009

To co-develop and co-commercialise MDV3100 for the treatment of prostate cancer

Astellas Pharma (Astellas) and Medivation have entered into a global agreement to develop and commercialise MDV3100, Medivation's investigational drug for the treatment of prostate cancer. MDV3100 is currently being evaluated in the phase 3 AFFIRM clinical trial in men with castration-resistant prostate cancer who were previously treated with docetaxel-based chemotherapy.

Under the terms of the agreement, Medivation is expected to receive an up-front cash payment of $110m. Medivation is also eligible to receive payments of up to $335m upon the attainment of development and regulatory milestones plus up to an additional $320m in commercial milestone payments.

Reportedly, the companies will collaborate on a comprehensive development program that will include additional studies to develop MDV3100 for both late- and early-stage prostate cancer. Subject to receipt of regulatory approval, the companies will jointly commercialise MDV3100 in the US.

Moreover, the companies are also expected to share equally all US development costs, commercialisation costs, and profits. Astellas will have responsibility for developing and commercialising MDV3100 outside the US and will pay Medivation tiered double-digit royalties on ex-US sales.

Masafumi Nogimori, president and CEO of Astellas, said: "We are pleased to initiate a great partnership with Medivation. We believe that MDV3100 has the unique potential to establish a new treatment approach for prostate cancer. Astellas already has the global expertise in urology and the strong commitment to focus on oncology. This partnership is a significant milestone to further expand our business in urology and to establish our franchise in oncology."

David Hung, president and CEO of Medivation, said: "We are excited to be working with Astellas to develop MDV3100 for a broad spectrum of prostate cancer disease states. Astellas is an ideal partner for MDV3100 given its global reach, leading commercial presence in the urology space, and strategic focus on oncology. Astellas is the second major collaboration we have completed in the past year, and we are confident we have the right partners in place for each of our late-stage programs, Astellas for MDV3100 and Pfizer for dimebon (latrepirdine)."

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