Onxeo confirms receipt of the $25M milestone payment from its US partner Spectrum

14/11/2014 - 3 minutes

Onxeo, an innovative company specializing in the development of orphan oncology drugs, founded after the merger of BioAlliance Pharma and Topotarget, announces that it has received from his US partner Spectrum Pharmaceuticals the milestone payment of $25 million related to the approval of Beleodaq by the FDA.

Early July 2014, Beleodaq was granted by the U.S. Food and Drug Administration (FDA) conditional marketing authorization for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma (PTCL) under the FDA’s accelerated approval program. Related to that, Onxeo US partner Spectrum Pharmaceuticals has paid the $25 million milestone as planned by contract. Lymphoma is the most common blood cancer. In US, between 10 and 15% of non-Hodkin Lymphoma (one of the two types of Lymphoma) are PTCL with an incidence of 12 000 cases per year. Nowadays in Europe, no treatment is available for second line therapies, when the disease progress.

Following the New Drug Application approval, Spectrum Pharmaceuticals team has initiated Beleodaq promotion in August to key hematologists and has already generated about $2 million in sales for the 3rd quarter 2014,

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