Algeta signs Alpharadin manufacturing deals
Triggers €5m milestone payment from Bayer Schering Pharma
Algeta, a Norwegian firm focused on developing targeted therapies for cancer patients, has concluded two agreements for the manufacture and supply of Alpharadin for future commercial sale.
Alpharadin (radium-223) is a novel, targeted alpha-pharmaceutical in clinical trials for treating bone metastases.
Signing these agreements triggers a €5m milestone payment from Bayer Schering Pharma, Algeta’s development and commercial partner for Alpharadin.
The first agreement, with Bayer, provides that Algeta, based in Oslo, will be the exclusive supplier of Alpharadin for future commercial sale.
The second agreement sees Algeta significantly extend its collaboration with Oslo’s Institute for Energy Technology (IFE), which currently manufactures Alpharadin for Algeta/Bayer’s ongoing ALSYMPCA phase III study and clinical trials in other cancer indications.
Under the terms of this agreement, IFE will expand its existing Alpharadin production facility. The upgrade, which will be funded by Algeta, will create a manufacturing facility to supply the commercial demand for the product following its approval and launch.
Andrew Kay, Algeta’s chief executive, said: ‘Algeta and IFE have developed world-leading expertise in the production of the alpha-emitters that underpin our alpha-pharmaceutical platform. As a consequence, the new, state-of-the-art facility will also provide an important advantage to Algeta as it looks to advance its Thorium platform.’