Aeterna (AEZS) Signs Agreement to Bring Perifosine to Mid East, North Africa Region
7:32 am ET 11/23/2011 - Street Insider
AEterna Zentaris Inc. (Nasdaq: AEZS) and Hikma Pharmaceuticals PLC have signed an exclusive commercialization and licensing agreement for the registration and marketing of perifosine, Aeterna Zentaris' lead anti-cancer compound, for the MENA (Middle East and North Africa) region. Perifosine, a novel oral Akt inhibitor, is currently in two Phase 3 programs for the treatment of colorectal cancer and multiple myeloma in the United States and Europe.
Under the terms of the agreement, Aeterna Zentaris is entitled to receive an upfront payment and additional payments upon achieving certain pre-established milestones in the aggregate of $2 million. Furthermore, Aeterna Zentaris will be supplying perifosine to Hikma Pharmaceuticals on a cost-plus-basis and is entitled to receive double-digit royalties on future net sales of perifosine in the MENA region. Hikma Pharmaceuticals will be responsible for the registration and commercialization of perifosine in the MENA territory.