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Accelerated Pharma, Inc.
Drug Names(s): NX 473, AMD473, ZD0473
Description: Picoplatin is a new generation of platinum analog with an extended spectrum of antineoplastic activity. It is designed to overcome platinum resistance. Picoplatin alkylates DNA, forming both inter- and intra-strand cross-linkages, resulting in inhibition of DNA replication and transcription, and the induction of apoptosis.
Poniard and AnorMED
In April 2004, Poniard acquired from AnorMED worldwide exclusive rights, excluding Japan, to develop, manufacture and commercialize picoplatin for treatment of any human disease. AnorMED received a milestone payment and was eligible to receive further milestone payments of up to US$13 million. Upon approval AnorMED would receive royalty payments of up to 15% on product sales.
In September 2006, Poniard and AnorMED amended their license agreement for picoplatin. Under the terms of the amendended amendment, Poniard will receive exclusive rights to picoplatin in Japan. The expanded agreement provides for the elimination of all development milestone payments to AnorMED, and a reduction in the royalty rate on sales of picoplatin to a single digit royalty rate from a prior rate of up to 15 percent. The agreement also eliminates the sharing of sublicensing revenue with AnorMED for sublicenses after the first anniversary of the amendment and provides for a...See full deal structure in Biomedtracker
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