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ASKA Pharmaceutical, Takeda Pharmaceutical and Others Sign Licensing Agreement for Tavocept

Tokyo, Mar 21, 2006 (JCN) - ASKA Pharmaceutical and Takeda Pharmaceutical have signed a licensing agreement with BioNumerik Pharmaceuticals and KI Pharmaceuticals, a joint venture company of ASKA and BioNumerik, for Tavocept, a chemoprotective agent developed by BioNumerik.

Under the agreement, Takeda will be able to sell Tavocept exclusively in Japan, making upfront payments to ASKA, BioNumerik and KI, as well as milestone payments and royalties. Furthermore, ASKA will continue its current clinical trials of the agent in Japan at the expense of Takeda. KI will retain co-promotion rights in Japan.

Tavocept prevents and mitigates the incidence, severity and duration of peripheral nerve damage associated with chemotherapy drugs.

By Aki Tsukioka Contributor

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