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TopoTarget Successfully Buys Back Full Control of Belinostat
Date:4/22/2008

Target shares issued through a directed issue of shares and a commercial milestone payment of a total of USD 6 million (approximately DKK 28.3 million), which is defined as 10% of the first USD 60 million (approximately DKK 283.5 million) of belinostat sales or partnership revenues.

Belinostat is currently being tested in 18 clinical trials (10 sponsored by the NCI) to treat different types of cancer. Belinostat is safe and well-tolerated also when combined with chemotherapy, and has the unique flexibility of being administered both intravenously and orally in capsule form. This differentiates belinostat from its competitors. In 2007, the product was included in Windhover Information's top ten of the most interesting cancer products for partnering.

"TopoTarget will now push forward the development of belinostat to benefit cancer patients and will focus on bringing the drug to the market as soon as possible. Today's deal represents a great opportunity for TopoTarget and its shareholders by gaining sole ownership of belinostat. We can now pursue an initial registration in PTCL using our in house proven clinical and regulatory team and focus on pursuing a partnership with a large pharma which has the development and commercialisation muscle to exploit belinostat's blockbuster potential," said Peter Buhl Jensen, CEO of TopoTarget.

TopoTarget's belinostat strategy TopoTarget will now focus its resources on the development of belinostat, and the company has initiated a reorganisation to reflect this focus. In the second half of this year TopoTarget expects to launch the first registration trial in PTCL, a disease where no standard treatment is approved. TopoTarget is also pursuing a fast track status and an orphan drug status for this indication. With clinical trials commencing in the second half of 2008, TopoTarget believes a market approval could be obtained in 2010.

TopoTarget also expects to pursue a development programme in ovarian cancer
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SOURCE TopoTarget A/S
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