Vivesto and Elevar sign agreement ending Apealea® partnership
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
Solna, Sweden, November 23, 2023 – Vivesto AB, an oncology-focused research and development company, and Elevar Therapeutics Inc., today announced that the company signed a termination agreement ending the global strategic partnership started in 2020 regarding the commercialization of Vivesto’s anticancer product Apealea®.
Earlier in the year, the American pharmaceutical company Elevar Therapeutics said it intended to transfer the rights and obligations of the cancer drug Apealea to a third party. Apealea, which was approved in Europe in 2018, has only been launched in Germany by Elevar’s partner Inceptua.
Vivesto will now initiate the transfer of the market authorization holding back to Vivesto, while discussing possible partnerships with other companies interested in licensing Apealea. Vivesto will receive a lump sum of USD 500.000 from Elevar as a one-off compensation to cover costs in the transition of Apealea. All remaining Apealea product inventory has been transferred from Elevar to Vivesto.
“The development of Apealea and sales growth in Europe has been slower than expected,” said Erik Kinnman, CEO of Vivesto. “Terminating this agreement is an opportunity for us to accelerate discussions with potential new partners”
For more information:
Erik Kinnman, Chief Executive Officer
Phone: +46 018-50 54 40
E-mail: IR@vivesto.com
About Apealea®
Apealea is a patented, water-soluble, intravenously injectable formulation of paclitaxel, developed using Vivesto’s proprietary technology platform – XR-17 – which facilitates the solubility of paclitaxel. Paclitaxel is a chemotherapy medication used to treat a number of types of cancers. Apealea has been authorized for marketing by the European Commission. Apealea in combination with Carboplatin is approved for the treatment of adult patients with first relapse of platinum-sensitive epithelial ovarian cancer, primary peritoneal cancer and fallopian tube cancer.
About Vivesto AB
Vivesto is a research and development company that develops new treatment options for patients suffering from hard-to-treat cancer. The company develops projects with the potential to offer new treatment options for cancer patients with high medical needs. Vivesto has the capacity and expertise to develop drugs from early preclinical development to clinical phase. Late clinical-phase and commercial development is intended to take place through partnerships with other pharmaceutical companies.
Vivesto’s most advanced program Apealea® (paclitaxel micellar) has been granted market approval in the EU as a treatment for adult patients suffering from the first relapse of platinum sensitive epithelial ovarian cancer, or primary peritoneal cancer or fallopian tube cancer. In addition, Vivesto is developing the cancer programs Cantrixil and Docetaxel micellar, and the veterinary oncology program Paccal Vet (paclitaxel micellar) which is being developed for the treatment of malignant melanoma and hemangiosarcoma in dogs.
Vivesto’s shares are traded on Nasdaq Stockholm (ticker: VIVE). Visit www.vivesto.com for more information about Vivesto.
This information is information that Vivesto AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-X 08:00 CET.