Novelix Announces Licensing of Cancer Compound to AOP Orphan Pharmaceuticals
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- Published on Tuesday, 27 February 2007 02:00
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PASADENA, CA, USA | Feb 26, 2007 | Novelix Pharmaceuticals Inc. (Novelix), a biopharmaceutical company focused on the development of first in class small molecule cancer therapeutics, announced today that it has licensed its drug candidate NVX-207 to AOP Orphan Pharmaceuticals AG. The exclusive but restricted license will enable AOP Orphan Pharmaceuticals to develop and commercialize NVX-207 in human orphan designations in all territories outside the United States. Financial terms of the agreement were not disclosed.
“The licensing of NVX-207 for niche indications is a significant event for Novelix, as we continue to build our clinical-stage portfolio of targeted therapies intended to serve major unmet needs of cancer patients,” said Dr. Burkhard Jansen, CEO and co-founder of Novelix. “Novelix’ strategy has been to develop a balanced clinical-stage portfolio of small molecule therapeutics in large-market cancer indications while benefiting from the development and use of its numerous drug candidates and pipeline products in niche and non-cancer indications.”
“We are very pleased about our decision to license NVX-207 from Novelix,” noted Dr. Rudolf Widmann, CEO of AOP Orphan Pharmaceuticals. “The compound’s unique properties make it a perfect fit with AOP Orphan Pharmaceuticals expertise in orphan drug development.”
About Novelix Pharmaceuticals Inc. (http://www.novelix.com)
Novelix Pharmaceuticals Inc. (Novelix) is a California-based biopharmaceutical company committed to developing proprietary first-in-class targeted small molecules for cancer therapy. Novelix’ initial focus is on lung cancer therapy and colon cancer therapy. The company has currently selected three groups of compounds for clinical development.
AOP Orphan Pharmaceuticals AG (http://www.aoporphan.com)
AOP Orphan Pharmaceuticals AG is a European biotechnology company focused on the development and distribution of medicines for rare diseases.
This news release contains forward-looking statements that involve significant risks and uncertainties. Novelix is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed. Results may differ materially from projections.
SOURCE: Novelix Pharmaceuticals Inc