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June 28, 2007 -- BioPro Licenses Savene |
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BioPro Pharmaceutical In-Licenses from TopoTarget A/S Rights in the Asia Region to Its Savene™ Product
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San Francisco, California. June 28, 2007: BioPro Pharmaceutical, Inc, based in San Francisco, today announced that it has entered into an agreement with TopoTarget A/S of Copenhagen, Denmark, for exclusive rights to develop, distribute and sell TopoTarget’s Savene™ product in Asia. Savene™ is used in the treatment of extravasation, the result of anthracycline based chemotherapy leaking into the healthy tissues surrounding the administration site.
BioPro Pharmaceutical has been granted exclusive rights to pursue regulatory approval, and market Savene™ in the regions, of North and Southeast Asia excluding Japan. Under the agreement, TopoTarget will receive an up-front payment and is entitled to various other payments associated with sales in the future. TopoTarget will deliver product inventory to BioPro Pharmaceutical for use in Asia while also retaining certain rights relevant to future product sales.
“We are pleased to be partnering our Savene™ product with BioPro Pharmaceutical,” said Peter Buhl Jensen, TopoTarget’s CEO. “BioPro is well positioned to exploit the potential of Savene™ in Asia, because the company has the appropriate infrastructure and expertise including extensive China experience, in place across that geographic market place.”
"We are delighted to enter into this agreement for the in-licensing of TopoTarget’s Savene™ product for extravasation as it achieves another significant and key milestone for BioPro Pharmaceutical, Inc.,” said Peter Huang, Chairman and CEO of BioPro Pharmaceutical, Inc. "The introduction of Savene™ is a terrific complement to our current line of cancer therapies. BioPro can now offer to cancer treatment hospitals in China, Korea and Southeast Asia a therapy for the treatment of a disfiguring and often a very painful condition. The high cost of not treating an anthracycline extravasation within 6 hours far exceeds the cost of Savene™ itself and results in the patient having to delay of cancer treatment for up to 6 months. Savene™ is a significant addition to our oncology line of products such as Gliadel® and Vantas™, and Fentanyl buccal tablet and Fentanyl patch we already feature in our portfolio.
Background about BioPro Pharmaceutical, Inc.:
BioPro Pharmaceutical is an oncology specialty biopharmaceutical company focused on the commercialization of products in the Pan Asian pharmaceutical markets. BioPro Pharmaceutical has subsidiary operations in greater China, including Beijing, Hong Kong and Taipei, as well as in Korea and Southeast Asia. The company’s expertise is in providing creative pharmaceutical solutions to US and European companies, simultaneously addressing the pharmaceutical needs of the Asia region. BioPro Pharmaceutical combines its expertise in the development and commercialization of innovative drug therapies with many years successful experience in the promotion, sales and marketing of pharmaceutical products in Asia.
Further information is available on the internet at: http://www.BioProPharm.com.
Background about TopoTarget A/S:
About TopoTarget
TopoTarget (OMX: TOPO) is a biotech company, headquartered in Denmark and with subsidiaries in the US, Switzerland, Germany and the UK, dedicated to finding ''Answers for Cancer'' and developing improved cancer therapies. TopoTarget is founded and run by clinical cancer specialists and combines years of hands-on clinical experience with in-depth understanding of the molecular mechanisms of cancer. Focus lies on highly predictive cancer models and key cancer targets (including HDACi, NAD+, mTOR, FasLigand and topoisomerase II inhibitors) and a strong development foundation has been built. TopoTarget has a broad portfolio of small molecule pre-clinical drug candidates and nine drugs (both small molecules and protein based) are in clinical development, including both novel anti-cancer therapeutics and new cancer indications for existing drugs. Savene™/Totect™ was approved by EMEA in 2006 and the FDA in 2007 and is TopoTarget’s first product on the market. For more information, please refer to www.topotarget.com.
Contact at BioPro Pharmaceutical, Inc.:
Charles H. Adams
Chief Financial Officer
BioPro Pharmaceutical, Inc.
Two Transamerica Center, Suite 1200
San Francisco, CA 94111
Tel: (415) 869-6764
Chuck@biopropharm.com
www.biopropharm.com
Contact at TopoTarget A/S
Investor Relations and Public Relations Department
Rachel Gravesen / Ulla Buhl
TopoTarget A/S
Symbion Science Park
Fruebjervgej 3
DK-2100 Copenhagen
Denmark
Tel: +45 (39) 17 83 92
Fax: +45 (39) 17 94 92
Email: lha@topotarget.com
Website: http://www.topotarget.com |
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