ScinoPharm and Foresee Pharma set up JV for novel oncological peptide drugs

31 January 2013

Taiwanese drugmaker ScinoPharm (TWSE: 1789) and Foresee Pharmaceuticals, a Delaware, USA-based spin-out from the research division of QPS Holdings), have jointly announced an investment agreement to form a joint venture.

This JV looks to develop a series of peptide injectable drugs with the first being a new oncological leuprolide injectable drug product, where leuprolide (the active ingredient of Abbott Labs’ Lupron) will be formulated in a proprietary controlled-release drug delivery system originally developed by Foresee and transferred to the JV. ScinoPharm is committing $3.6 million for a minority ownership in the new company.

This peptide injectable drug is for treatment of prostate cancer and will be the first new drug investment made by ScinoPharm. The pivotal Phase III clinical trial is planned for late 2013. Pending a successful filing and New Drug Application approval, the product is expected to be launched in the USA in 2016-2017 with international filings to follow.

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