Oncology Venture gets option to in-license European rights to IXEMPRA

By Nikita Chaurasia  | Date: 2019-04-05

Oncology Venture gets option to in-license European rights to IXEMPRA

Oncology Venture has reportedly gained an exclusive option to in-license the European rights to IXEMPRA® (ixabepilone) from the pharma company R-Pharm U.S., LLC. As per trusted sources, the aforesaid firm acquired global rights to IXEMPRA® from Bristol-Myers Squibb in July 2015 and the drug is permitted in the USA for the treatment of breast cancer.

Oncology Venture will assess ixabepilone along with its drug-specific DRP® companion diagnostic to obtain market approval in Europe.

According to a press release by Oncology Venture, the company has assessed the capacity of its DRP® companion diagnostic to detect which patients will most likely benefit from ixabepilone, depending on previous treatment results and information on tumor gene published by BMS in the scientific literature. The study specifies that patients profiting from Ixabepilone can be recognized through ixabepilone-specific DRP® companion diagnostic. Moreover, the company is certain that it will prevail in its quest to gain EMA approval in order to market ixabepilone across Europe to treat individuals with metastatic breast cancer.

As per the agreement, IXEMPRA® (ixabepilone) will undergo clinical trials in Europe with metastatic breast cancer patients, where the drug will be evaluated by Oncology Venture together with its DRP® companion diagnostic. If the trials unveil convincing results, Oncology Venture will have the option to in-license the commercial rights for IXEMPRA® in the European market. The extended pipeline is not anticipated to surge Oncology Venture’s cost base as the clinical development of ixabepilone will be funded via a special purpose vehicle/joint venture to be open to interested investors while the program will be controlled by Oncology Venture. 

For the record, ixabepilone was initially developed by Bristol-Myers Squibb and was permitted for the treatment of metastatic breast cancer by the US FDA in 2007 but failed to receive approval from the European Medicines Agency for the drug to be marketed in Europe. Currently, the product is marketed by R-Pharm in the USA, as well as in Switzerland, Lichtenstein and some parts of South America, reported sources.

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Russia denies plans of blocking YouTube & cutting off from the internet

Russia denies plans of blocking YouTube & cutting off from the internet

By Nikita Chaurasia

The Digital Development Minister of Russia has reportedly stated that the country is not planning to block Google’s video streaming platform YouTube as such a move would affect its users and will therefore be avoided.  It is worth notin...

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Indian food delivery giant Swiggy to buy Dineout from Times Internet

By Nikita Chaurasia

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where it will c...

Grocery delivery platform Instacart files for U.S. stock market debut

Grocery delivery platform Instacart files for U.S. stock market debut

By Nikita Chaurasia

Instacart, a grocery delivery service, has announced that it has submitted a provisional registration statement with the Securities and Exchange Commission (SEC), clearing the way for the company to list its shares on the U.S. stock exchange. The ...

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

By Nikita Chaurasia

American food major Tyson Foods Inc. has reportedly improved its full-year sales outlook after witnessing better-than-expected earnings and revenue in the last quarter. The company raised its full-year sales to around USD 54 billion, above the averag...

EU likely to enforce new rules to regulate tech giants in spring 2023

EU likely to enforce new rules to regulate tech giants in spring 2023

By Nikita Chaurasia

The Executive Vice President of the European Commission Margrethe Vestager reportedly claimed that the union is likely to start enforcing the Digital Markets Act (DMA) in the spring of 2023. The antitrust legislation, which aims to limit the power of...