Spectrum Pharmaceuticals, Inc. Announces A License And Collaboration Agreement For Ozarelix With Nippon Kayaku Co., Ltd. For The Japanese Market

Irvine, CA - Spectrum Pharmaceuticals, Inc. announced that its licensor for ozarelix, AEterna Zentaris, has entered into a licensing and collaboration agreement with Nippon Kayaku for the fourth generation luteinizing hormone-releasing hormone (LHRH) antagonist, ozarelix. Under the terms of the agreement, Nippon Kayaku has an exclusive license to develop and market ozarelix for all potential oncological indications in Japan. In return, the licensor is to receive an upfront payment upon signature, and is eligible to receive payments upon achievement of certain development and regulatory milestones, in addition to low double- digit royalties on potential net sales. Under its license agreement with AEterna Zentaris, Spectrum is entitled to receive fifty percent of the upfront and milestone payments and royalties AEterna Zentaris' receives under this agreement with Nippon Kayaku.

"This strategic alliance is another step towards recognizing our risk- reduced business model," stated Dr. Rajesh C. Shrotriya, Chairman, Chief Executive Officer and President of Spectrum. "In addition to the financial benefit we shall receive, an agreement with Nippon Kayaku, a key player in the Japanese oncology market, is important validation of the potential of ozarelix."

SOURCE: Spectrum Pharmaceuticals, Inc.