Mylan sells Ceplene rights back to owner

US biotech Immune Pharmaceuticals (Nasdaq: IMNP) saw its shares fall 6.2% to $2.59 early today, after it said it is repurchasing European and other rights to its acute myeloid leukemia (AML) treatment Ceplene (histamine dihydrochloride).

In 20012, Immune sold certain of these Ceplene-related assets to Sweden-based Meda, which in 2016 was acquired by Netherlands-incorporated Mylan (Nasdaq: MYL). Immune intends, through its immuno-oncology subsidiary Cytovia, to undertake commercialization efforts in Europe, Asia and Latin America. In addition, Cytovia intends to pursue continued development of Ceplene towards potential regulatory approval in the USA

"We are excited to regain Ceplene's European and Asian rights from Mylan and to transition Immune, through Cytovia, into a revenue-generating phase of the company's evolution. This agreement is an additional step forward towards our previously stated objective of executing a plan to establish an independent oncology business through Cytovia and follows the execution of the Letter of Intent with Pint Pharma related to licensing Ceplene in Latin America and investing in Cytovia," said Dr Daniel Teper, founder and chief executive of Immune. "Proactive maintenance treatment for acute myeloid leukemia (AML) has been recognized as highly essential for relapse prevention, and we are pleased for the potential opportunity to become a leader in the AML remission maintenance space," he added.