-- Phase III trials of OGX-011 in first- and second-line advanced prostate cancer and non-small cell lung cancer, expected to begin in 2010 and early 2011 --
-- Significantly strengthens Teva's oncology offerings with novel therapeutic designed to target resistance to cancer treatments --
JERUSALEM, Israel, BOTHELL, WA and VANCOUVER, Canada, Dec. 21 /PRNewswire-FirstCall/ - Teva Pharmaceutical Industries Ltd. ( TEVA) and OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced today that they have entered into a global license and collaboration agreement to develop and commercialize OGX-011, as well as an agreement to purchase shares in OncoGenex. OGX-011 is a Phase III cancer therapy designed to inhibit cancer treatment resistance. OGX-011 is expected to be used as adjunct therapy to enhance the effectiveness of chemotherapy and has shown promising results when added to currently available chemotherapies in several tumor types addressing a significant unmet medical need.
The agreement will further enhance Teva's oncology offerings and strengthen its global branded product pipeline with a promising product candidate entering three Phase III trials involving large patient populations. Teva and OncoGenex will collaborate on a global Phase III clinical program, with two Phase III clinical trials expected to be initiated in 2010: a Phase III Study for Second-line Chemotherapy in Men with Metastatic Castrate Resistant Prostate Cancer (CRPC) and a Phase III Study in First-Line Chemotherapy for Metastatic CRPC. An additional Phase III Study in First-Line Treatment of Advanced, Unresectable Non-Small Cell Lung Cancer (NSCLC) is intended to be initiated by early 2011.
Under the terms of the collaboration and share purchase agreements, Teva will provide OncoGenex with a $60 million initial cash payment, whi
|SOURCE OncoGenex Pharmaceuticals, Inc.|
Copyright©2009 PR Newswire.
All rights reserved