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Spectrum Pharmaceuticals, Inc.

Drug Names(s): SPI-28090

Description: Elsamitrucin is an anti-tumor antibiotic discovered by Bristol-Myers Squibb. The drug's mechanism of action is based on its ability to induce single strand DNA breaks. This is a result of drug intercalation between base pairs with selectivity for the CG base pairs of DNA, which imparts a greater binding stability. Elsamitrucin also causes the inhibition of topoisomerase II, an enzyme important in the process of DNA replication.

Deal Structure: In November 2001, Spectrum Pharmaceuticals (then NeoTherapeutics) acquiredthe worldwide rights to develop and market Elsamitrucin from Bristol-MyersSquibb. Under the terms of the agreement the Company paid an initial licensing fee of $100,000 and is obligated to pay milestone payments that could total up to $900,000 if the Company receives approval of an NDA by either the FDA or any equivalent foreign regulatory authority. Spectrum will also pay royalties to Bristol-Myers if sales should ever materialize from Elsamitrucin.

Partners: Bristol-Myers Squibb Company

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