Spectrum Pharmaceuticals In-Licenses Poziotinib, a Novel pan-HER Inhibitor With Clinical Activity in Several Solid Tumors, From Hanmi Pharmaceuticals

   Poziotinib is a novel oral, pan-HER inhibitor that has shown single agent clinical activity in breast cancer, gastric cancer, lung cancer, and colorectal cancer, and is currently being studied in several Phase 2 clinical trials.
   Poziotinib has shown a remarkable 60% response rate in early clinical trials in patients with breast cancer who had previously failed multiple lines of treatment, including HER2-directed therapies trastuzumab and lapatinib.
   Spectrum receives worldwide rights, excluding Korea and China.
   Data from Poziotinib will be highlighted at Spectrum's upcoming Analyst Day on March 13th in New York.

HENDERSON, NV, USA I March 4, 2015 I Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in Hematology and Oncology, today announced it has entered into a licensing agreement with Hanmi Pharmaceuticals for poziotinib, a drug being investigated for the treatment of cancer.

Poziotinib (HM781-36B) is a novel, oral, quinazoline-based pan-HER inhibitor that irreversibly blocks signaling through the HER family of tyrosine-kinase receptors including HER1 (erbB1; EGFR), HER2 (erbB2), and HER4 (erbB4), as well as HER receptor mutations; this, in turn, leads to inhibition of the proliferation of tumor cells that overexpress these receptors. Mutations or overexpression/amplification of HER family receptors have been associated with a number of different cancers, including non-small cell lung cancer (NSCLC), breast cancer, gastric cancer, etc. Currently, poziotinib is being investigated by Hanmi in EGFR-mutant NSCLC (Phase 2, sponsored by National OncoVenture), gastric cancer (Phase 2), head & neck cancer (Phase 2) and HER2 positive breast cancer (Phase 2, sponsored by National OncoVenture). National OncoVenture is a funding initiative by the Korean government's National Cancer Center.

"We continue to make progress on achieving our goal of becoming leaders in Oncology, and we believe that this late clinical stage drug acquisition continues to build and further strengthen our oncology portfolio," said Rajesh C. Shrotriya, MD, Chairman and Chief Executive Officer of Spectrum Pharmaceuticals. "Poziotinib has shown promising early clinical activity with 60% (6/10) of patients with breast cancer having responses in Phase 1 clinical trials. These patients were heavily pre-treated, had previously received and failed multiple lines of treatment, and had been previously treated with the HER2-directed therapies, trastuzumab and lapatinib. In addition, tumor responses were also seen in patients with gastric cancer, colorectal cancer, and lung cancer. We are pleased to continue to work closely with Hanmi Pharmaceuticals and further our ongoing collaboration as we work together to bring more treatment options to cancer patients."

"Despite the availability of a number of HER2-directed therapies, most patients with metastatic breast cancer relapse and die because of progressive disease," said Dr. Francisco Esteva, Professor of Medicine, Director, Breast Medical Oncology Associate, Director of Clinical Investigation, Laura and Isaac Perlmutter Cancer Center New York University Langone Medical Center. "Therefore, there is a critical need for new treatments to improve the outcome for these patients. The fact that breast cancer patients previously treated with trastuzumab and lapatinib have shown responses to poziotinib is very exciting. If these early data are confirmed in additional clinical trials, poziotinib could become a very important treatment option for patients with breast cancer."

Under the terms of the agreement, Spectrum received exclusive license to develop, manufacture and commercialize worldwide excluding Korea and China. Hanmi shall remain responsible for the cost of the ongoing Phase 2 studies through completion.

About Spectrum Pharmaceuticals, Inc.

Spectrum Pharmaceuticals is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in oncology and hematology. Spectrum and its affiliates market five oncology drugs─ FUSILEV® (levoleucovorin) for Injection in the U.S.; FOLOTYN® (pralatrexate injection), also marketed in the U.S.; ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use, for which the Company has worldwide marketing rights; MARQIBO® (vinCRIStine sulfate LIPOSOME injection) for intravenous infusion, for which the Company has worldwide marketing rights; and BELEODAQ® (belinostat) for Injection in the U.S. Spectrum's strong track record in in-licensing and acquiring differentiated drugs, and expertise in clinical development, have generated a robust, diversified, and growing pipeline of product candidates in advanced-stage Phase 2 and Phase 3 studies. More information on Spectrum is available at www.sppirx.com.

About Hanmi Pharmaceuticals Co., Ltd

Hanmi Pharmaceuticals is a Korea-based global pharmaceutical company focused on the development and commercialization of new pharmaceutical products. The Company is fully integrated from R&D through manufacturing, marketing and sales with an established presence in Korea as well as China. The Company invests over 16% of its sales in R&D and has over 20 programs in clinical development in three main areas: 1) novel long-acting biologics based on the Company's LAPSCOVERY™ platform that aim to shift treatment paradigm of diabetes and obesity with weekly insulin, weekly to monthly GLP-1, and their combinations (Quantum Project); 2) novel targeted agents against cancer and autoimmune disorders; and 3) fixed-dose combination programs. The Company has collaboration with global partners on various co-development and business opportunities. More information on Hanmi is available at www.hanmipharm.com.

SOURCE: Spectrum Pharmaceuticals

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