Double Bond Pharamceutical AB acquires Temodex, a locally acting brain tumor therapy based on temozolomide
- DBP will expand and diversify the company’s portfolio by acquiring Temodex indicated for the treatment of glioblastoma from RI PCP in Belarus
- This transaction underscores DBP’s commitment to become a leading supplier of first-in-class drug delivery platforms, offering patients a wide range of treatments for oncology diseases while simultaneously delivering value to shareholders
- DBP will acquire the global rights to Temodex, excluding the Eurasian Economic Union and Ukraine
Double Bond Pharmaceutical AB announced today that it has entered into an agreement for the acquisition of the global rights for Temodex, a locally acting formulation of the established antineoplastic drug temozolomide, from the Research Institute of Physical and Chemical Problems (RI PCP) in Belarus, excluding the Eurasian Economic Union (Russia, Belarus, Kazakhstan, the Republic of Armenia, the Kyrgyz Republic), and Ukraine.
Temozolomide is currently approved in Europa and USA as a first-line treatment for glioblastoma multiforme and as a second-line treatment for astrocytoma. Temodex, which is a locally acting form of temozolomide, was developed by the RI PCP and has successfully been studied clinically. Temodex was registered as a first-line treatment of glioblastoma multiforme in Belarus 2014. Glioblastoma multiforme, also known as glioblastoma and grade IV astrocytoma, is the most common and most aggressive malignant form of primary brain tumor.
"We are very pleased to further reinforce our commitment to oncology products and to add a new superior drug delivery candidate to our innovative portfolio. This acquisition is transformational for our company since DBP is taking a giant step forward from a preclinical-stage company to a clinical- and marketing-stage pharmaceutical company. It is a game changer for our commitment to build a leading independent pharmaceutical company that delivers value to our shareholders," says Igor Lokot, CEO of DBP. "Our vision is to develop therapies that improve the current standards of care and meets the urgent need for innovative and efficient drugs for patients suffering from glioblastoma."
DBP will be responsible for the development and regulatory and commercialization activities for Temodex worldwide excluding Eurasian Economic Union and Ukraine. Under the terms of the agreement, the RI PCP is eligible to receive one-digit tiered royalties on net sales.
Temozolomide is an oral chemotherapy drug which is considered to be a prodrug and also an imidazotetrazine derivative of the alkylating agent dacarbazine. Temozolomide is used as a treatment of several brain cancer forms, e.g., as a second-line treatment for astrocytoma and as a first-line treatment for glioblastoma multiforme. The therapeutic benefit of temozolomide is due to its ability to alkylate/methylate DNA. This alkylation/methylation destroys the DNA and triggers the death of the tumor cells. Temozolomide was developed by Malcolm Stevens and his team at Aston University in Birmingham in UK and has been available in the US since year 1999, and in other countries since year 2000.
Temodex, which is a locally acting form of temozolomide, was developed by the RI PCP in Minsk in Belarus and has successfully been clinically assessed. Temodex is registered as a first line treatment of glioblastoma multiforme in Belarus since 2014. For more info: www.doublebp.com
About Glioblastoma Multiforme
Glioblastoma multiforme, also known as glioblastoma and grade IV astrocytoma, is the most common and aggressive malignant form of all primary brain tumors. It affects glial cells and accounts for 52% of all brain tissue tumor cases and 20% of all tumors inside the skull. About 50% of the patients diagnosed with glioblastoma die within one year and 90% within three years.
Company name: Double Bond Pharmaceutical International AB
Corporate identity number: 556991-6082
Stock short name: DBP B
ISIN code: SE0007185525
Information about Double Bond Pharmaceutical International AB:
DBP is a pharmaceutical company that primarily develops drugs against cancer through its proprietary drug delivery technology. The company was granted Orphan Drug status by the European Medicines Agency in June 2015 for its first product, SA033, for treatment of hepatoblastoma.