Navigation Links
Cephalon Signs Investment Agreement to Fund ChemGenex Oncology Clinical Development Operations
Date:10/21/2010

FRAZER, Pa., Oct. 21 /PRNewswire/ -- Today, Cephalon, Inc. (Nasdaq: CEPH) announced the signing of a convertible note subscription agreement with ChemGenex Pharmaceuticals Limited (ASX: CXS), an Australian-based oncology focused biopharmaceutical company.  Under the terms of the agreement, Cephalon will provide up to A$15 million to ChemGenex in return for a note that is convertible at A$0.50 per share.  This funding will support ChemGenex operations, including clinical activities to complete a planned New Drug Application submission to the U.S. Food and Drug Administration for omacetaxine for the treatment of chronic myelogenous leukemia (CML) patients who have failed two or more tyrosine kinase inhibitor (TKIs).  Separately, Cephalon also entered into option agreements with two of ChemGenex's major shareholders, Stragen International N.V. and Merck Sante S.A.S.  Under those option agreements, Cephalon has the right to acquire up to 19.9 percent of ChemGenex's outstanding shares at A$0.70 per share.  

"Our deal with ChemGenex allows us to provide the necessary resources to support the completion of a clinical and regulatory pathway for omacetaxine for CML patients facing a critical unmet medical need," said Kevin Buchi, Chief Operating Officer at Cephalon.

Cephalon has the right to exercise the options before the later of March 31, 2011, and ten business days after receipt of certain clinical trial data and related analyses from ChemGenex (the "Exercise Period").  Cephalon has the right to convert the notes to ChemGenex shares at any time, subject to ChemGenex shareholder approval (to be sought by December 31, 2010) for conversion during the Exercise Period or if the options are exercised.  Cephalon will determine whether to exercise its rights under any or all of the agreements following receipt and review of the ChemGenex data and analyses.

About Cephalon, Inc.Cephalon is a global biopharmaceutical company dedicated to discovering, developing and bringing to market medications to improve the quality of life of individuals around the world.  Since its inception in 1987, Cephalon has brought first-in-class and best-in-class medicines to patients in several therapeutic areas.  Cephalon has the distinction of being one of the world's fastest-growing biopharmaceutical companies, now among the Fortune 1000 and a member of the S&P 500 Index, employing approximately 4,000 people worldwide. The company sells numerous branded and generic products around the world.  In total, Cephalon sells more than 150 products in nearly 100 countries. More information on Cephalon and its products is available at www.cephalon.com.

In addition to historical facts or statements of current condition, this press release may contain forward-looking statements.  Forward-looking statements provide Cephalon's current expectations or forecasts of future events.  These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings guidance, and other statements regarding matters that are not historical facts.  You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning.  Cephalon's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties facing Cephalon such as those set forth in its reports on Form 8-K, 10-Q and 10-K filed with the U.S. Securities and Exchange Commission.  Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect.  Therefore, you should not rely on any such factors or forward-looking statements.  Furthermore, Cephalon does not intend to update publicly any forward-looking statement, except as required by law.  The Private Securities Litigation Reform Act of 1995 permits this discussion.Contacts:CephalonMedia:Candace Steele Flippin610-727-6231 (office)csteele@cephalon.com Investor Relations:Chip Merritt610-738-6376 (office)cmerritt@cephalon.com Joseph Marczely610-883-5894 (office)jmarczely@cephalon.com
'/>"/>

SOURCE Cephalon, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
2. Cephalon Announces Positive Results from Its Pivotal Study of TREANDA in Patients with Non-Hodgkins Lymphoma
3. Journal of Clinical Oncology Publishes Study of Cephalon Medication TREANDA Plus Rituximab in Relapsed Non-Hodgkins Lymphoma
4. Cephalon Receives Complete Response Letter Regarding Request for Expanded FENTORA Label for Non-Cancer Breakthrough Pain
5. Cephalon Signs Option Agreement to Acquire Ception Therapeutics
6. Cephalon Announces Positive Results From a Phase Two Study of NUVIGIL in Bipolar Depression
7. Cephalon Announces Positive Results from a Phase Three Study of NUVIGIL in Jet Lag Disorder
8. Cephalon Provides Clinical Update on Lestaurtinib in Relapsed Acute Myelogenous Leukemia
9. Cephalon Submits NUVIGIL Supplemental New Drug Application for the Treatment of Excessive Sleepiness Associated with Jet Lag Disorder
10. Cephalon Announces that FDA Grants Priority Review of its Supplemental New Drug Application for NUVIGIL as a Treatment for Excessive Sleepiness Associated with Jet Lag Disorder
11. Cephalon Signs Option Agreement to Acquire BioAssets Development Corporation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... 2016 The primary goal of this research ... on the usage of liquid biopsy. Key information the ... - Timeframe of liquid biopsy adoption amidst future users ... organization type - Sample inflow to conduct liquid biopsy ... serum, and so on. - Correlation analysis of sample ...
(Date:2/11/2016)... YORK , Feb. 11, 2016 ... instruments commonly used in laboratories. These may range from ... condensers. Laboratory glassware is made from borosilicate glass because ... Laboratory plasticware, on the other hand, started gaining popularity ... it was easier to replace glass with plastic in ...
(Date:2/11/2016)... 2016  Governor Andrew M. Cuomo today announced a ... throughout Western New York . This ... Polytechnic Institute, includes a major expansion of Athenex,s North ... Buffalo , as well as the creation of ... Dunkirk . The combined projects are expected ...
Breaking Medicine Technology:
(Date:2/13/2016)... Salt Lake City, Utah (PRWEB) , ... February 13, 2016 , ... When an ... kids, Host Parents aren’t always sure what they are in for and they are often ... Pairs are more than they were hoping for. This year’s Au Pair of the Year ...
(Date:2/12/2016)... ... February 12, 2016 , ... The law firm of Morrow, Morrow, ... The purpose of these scholarships is to encourage applicants to pursue a degree ... employment within these two parishes. , “We have available jobs in St. Landry ...
(Date:2/12/2016)... ... ... Each year, the American Physical Therapy Association (APTA) offers a Combined Sections Meeting. ... Almost 10,000 physical therapists across the country are expected to attend this annual convention ... field and network with their colleagues. As in years past, HydroWorx is proud ...
(Date:2/12/2016)... ... 2016 , ... Itopia, a leader in cloud services automation ... Platform (CIP) into Cielo®, a discovery, migration and cloud orchestration engine. This integration ... and medium business (SMB) clients. , In recent years, BI and ...
(Date:2/12/2016)... Vail, Colorado (PRWEB) , ... February 12, 2016 , ... ... 164 ASC Industry Physician Leaders to Know in 2016 . The list consists of ... leaders nominated physicians to establish this list. , An Ambulatory Surgery Center, also ...
Breaking Medicine News(10 mins):