Marketing Authorization Application for Satraplatin Accepted for Review by the European Medicines Agency
July 27 2007 - 7:00AM
PR Newswire (US)
- Acceptance of Application Triggers Milestone Payment to Spectrum
Pharmaceuticals, Inc. IRVINE, Calif., July 27
/PRNewswire-FirstCall/ -- Spectrum Pharmaceuticals, Inc.,
(NASDAQ:SPPI) today announced that the Marketing Authorization
Application (MAA) that was submitted to the European Medicines
Agency (EMEA) by Pharmion Corporation (NASDAQ:PHRM) for satraplatin
in combination with prednisone for the treatment of patients with
metastatic hormone-refractory prostate cancer (HRPC) who have
failed prior chemotherapy, has been accepted for review. "We
believe that, if approved, satraplatin will be an effective
treatment option in an indication where there are few treatment
options available," said Luigi Lenaz, Chief Scientific Officer of
Spectrum Pharmaceuticals. "We continue to identify, acquire and
develop new and what we believe will be more effective, drug
candidates for various forms of cancer and other life altering
diseases, such as EOquin(R) for non-invasive bladder cancer,
ozarelix for benign prostate hypertrophy, SPI-1620 for solid
tumors, and most recently, ortataxel for taxane-refractory tumors."
Spectrum currently has 11 drug product candidates under
development. Spectrum acquired worldwide rights to satraplatin from
Johnson Matthey PLC. In 2002, Spectrum licensed worldwide rights to
satraplatin to GPC Biotech (Frankfurt Stock Exchange: GPC; TecDAX
index; Nasdaq: GPCB). GPC Biotech is responsible for all costs
associated with the development and regulatory filings of
satraplatin. About Spectrum Pharmaceuticals Spectrum
Pharmaceuticals acquires, develops and commercializes a diversified
portfolio of oncology drug candidates that meet critical health
challenges for which there are few other treatment options.
Spectrum's expertise lies in identifying undervalued drugs with
demonstrated safety and efficacy, and adding value through further
clinical development and selection of the most viable and
risk-reduced methods of commercialization. The company's pipeline
includes promising early and late-stage drug candidates with unique
formulations and mechanisms of action that address the needs of
seriously ill patients, such as at-home chemotherapy and new
treatment regimens for refractory disease. For more information,
please visit our website at http://www.spectrumpharm.com/.
Forward-looking statement -- This press release may contain
forward-looking statements regarding future events and the future
performance of Spectrum Pharmaceuticals that involve risks and
uncertainties that could cause actual results to differ materially.
These statements include but are not limited to statements that
relate to our business and its future, Spectrum's ability to
identify, acquire, develop and commercialize its portfolio of drug
candidates, the Company's promising pipeline, our team's ability to
identify promising drugs and move these drugs through development
and toward commercialization, that satraplatin will be an effective
treatment option in an indication where there are few treatment
options available, that we continue to identify, acquire and
develop new and what we believe will be more effective, drug
candidates for various forms of cancer and other life altering
diseases and any statements that relate to the intent, belief,
plans or expectations of Spectrum or its management, or that are
not a statement of historical fact. Risks that could cause actual
results to differ include the possibility that our existing and new
drug candidates, may not prove safe or effective, the possibility
that our existing and new drug candidates may not receive approval
from the FDA, and other regulatory agencies in a timely manner or
at all, the possibility that our existing and new drug candidates,
if approved, may not be more effective, safer or more cost
efficient than competing drugs, the possibility that our efforts to
acquire or in- license and develop additional drug candidates may
fail, our lack of revenues, our limited marketing experience, our
dependence on third parties for clinical trials, manufacturing,
distribution and quality control and other risks that are described
in further detail in the Company's reports filed with the
Securities and Exchange Commission. We do not plan to update any
such forward-looking statements and expressly disclaim any duty to
update the information contained in this press release except as
required by law. COMPANY CONTACTS MEDIA CONTACT Russell Skibsted
Susan Neath SVP & Chief Business Officer Porter Novelli Life
Sciences 619-849-6007 Paul Arndt Manager, Investor Relations
949-788-6700 DATASOURCE: Spectrum Pharmaceuticals, Inc. CONTACT:
Russell Skibsted, SVP & Chief Business Officer, or Paul Arndt
Manager, Investor Relations, both of Spectrum Pharmaceuticals,
Inc., +1-949-788-6700; or Media, Susan Neath of Porter Novelli Life
Sciences, +1-619-849-6007, for Spectrum Pharmaceuticals, Inc. Web
site: http://www.spectrumpharm.com/
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