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Drug Names(s): vapreotide acetate, RC-160, Octastatin, BMY 41606, Debio 8609
Description: Sanvar (vapreotide acetate) is a synthetic octapeptide analogue of the naturally occurring somatostatin hormone. It has similar pharmacological properties to native somatostatin but exhibits a longer duration of action.
Deal Structure: Vapreotide was developed at Tulane University School of Medicine, which holds the patent rights. Vapreotide was licensed to Debiopharm for development in Europe.
In July 2003, H3 Pharma and Debiopharm announced an agreement which gave H3 Pharma the worldwide research, development, and commercialization rights to Sanvar. In March 2005, Debiopharm purchased all the outstanding shares of H3 Pharma from Montreal-based Societe Generale de Financement du Quebec (SGF).
In September 2006, Salix acquired exclusive marketing rights for Sanvar in the United States from the Debiopharm Group. Under the terms of the agreement, Salix is required to make an up-front payment and regulatory and sales performance milestone payments to Debiovision that could total up to $14 million.
In August 2009, Salix provided a 30-day notice to Debiopharm of termination of the agreement because the FDA did not approve Sanvar.
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