Clinigen acquires US-approved Totect
Clinigen Group plc, the global pharmaceutical and services company, has acquired Totect® (dexrazoxane) from Biocodex USA, a product that is patent protected in US, Canada and Mexico.
Totect® is an emergency medicine used to reverse the toxic effects of anthracycline anti-cancer treatment. Occasionally, anthracyclines when administered, accidently leak outside of the vein into surrounding tissue causing severe damage. Totect® reverses this damage, allowing patients to continue their essential anti-cancer treatment.
The acquisition, together with the Group's acquisition of Savene® in 2014, gives Clinigen a complete global footprint for this indication. This market entry strategy enables the Group to access the US, an important market for extravasation, and the opportunity to extend into further indications, such as cardio-protection.
Totect® was acquired for an upfront payment followed by milestone-based instalments over 12 months. Further financial terms of the acquisition are not being disclosed. Under the terms of the agreement, Clinigen's Specialty Pharmaceuticals division will assume full responsibility for Totect's® manufacturing, registration, distribution, and commercialisation in the US. Totect® has method of use patent protection until 2020.
Peter George, Chief Executive Officer, Clinigen Group, said:
"By acquiring Totect® we have become the global supplier of dexrazoxane for extravasation and have gained access to the important US market. This product is a valuable addition to our global dexrazoxane portfolio and another step forward in our specialty pharmaceutical business strategy."
David Moran, Managing Director, Clinigen Specialty Pharmaceuticals, said:
"Following the successful acquisition and revitalisation of Savene®, Totect® was a natural target for us as we continue to focus on acquiring niche, hospital-only therapies with the potential to protect the lives of critically ill patients. Totect® further builds our position in the oncology support area, adding to existing products Savene®, Cardioxane®, Ethyol® and Foscavir®."