Spectrum regains rights from Allergan for apaziquone

3 February 2013

US biotech firm Spectrum Pharmaceuticals (NasdaqGS: SPPI) says it has reacquired development and commercialization rights for apaziquone in the USA, Europe and other territories under an agreed-upon restructuring of Spectrum’s collaboration with Allergan (NYSE: AGN). In exchange, Allergan will receive a royalty on future revenue. Spectrum shares rose 7.4% to $12.81 in afternoon trading the day of the announcement (last Thursday).

Apaziquone is an anticancer agent being developed for the treatment of non-muscle invasive bladder cancer (NIMBC) as a single instillation following transurethral resection of bladder tumor (TURBT), and was the subject of a 2008 licensing deal that involved an upfront $41.5 million to Spectrum plus a potential $304 million in milestones (The Pharma Letter November 10, 2008).

Expects to file New Drug Application

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