Covidien and BioSynthema sign exclusive agreements for cancer therapy technology
US imaging solutions specialist Covidien and drug discovery and development company BioSynthema, based in St. Louis and Amsterdam, Netherlands, have signed agreements to develop and commercialise a nuclear medicine therapy for neuroendocrine cancer patients.
US imaging solutions specialist Covidien and drug discovery and development company BioSynthema, based in St. Louis and Amsterdam, Netherlands, have signed agreements to develop and commercialise a nuclear medicine therapy for neuroendocrine cancer patients.
Under the terms of an exclusive license agreement, BioSynthema will gain access to specific Covidien proprietary peptide technology. The license will enable BioSynthema to use this technology in conjunction with its own technology and proprietary clinical research to further develop a new, targeted radionuclide therapy product. Under the terms of a separate agreement, Covidien will have exclusive marketing rights to the resulting cancer therapy technology.
The new technology utilises a radiolabelled peptide that targets specific somatostatin receptors on neuroendocrine cancer cells. If approved, this drug candidate will add to Covidien's portfolio of nuclear medicine oncology agents.
"We are very pleased to be working with BioSynthema on this important technology," said Steve Hanley, president of Covidien Imaging Solutions. "This project reflects Covidien's commitment to the future of nuclear medicine and to the development of new and unique radiolabeled products."
The companies plan to pursue marketing authorisation in Europe and the US initially.