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Spectrum Receives $16m From Collaboration Agreement For Apaziquone

Published: 29-Jan-2010

Spectrum Pharmaceuticals has received $15m from Nippon Kayaku in connection with the collaboration agreement for apaziquone (EOquin) announced on November 10, 2009, and $1m from Handok Pharmaceuticals announced on November 23, 2009.

The company previously announced strategic collaboration agreements with Allergan for North America, Europe, and other key markets; Nippon Kayaku for Asian countries; and Handok Pharmaceuticals for South Korea.

Under terms of the three agreements, in addition to the upfront payments received, Spectrum Pharmaceuticals may receive potential milestone payments based on the achievement of certain clinical, regulatory, and commercialization milestones of more than $450m.

Spectrum will also receive royalties on all ex-US sales.

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