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Print Edition StoriesDrug developer Molecular Insight Pharmaceuticals Inc. said Friday it has inked two 10-year licensing and production deals for its cancer-therapy target Onalta.
The Cambridge-based company (Nasdaq: MIPI) said the distribution deal is with BioMedica Life Sciences S.A., based in Athens, Greece. The agreement will supply BioMedica Onalta for commercialization in certain European countries, the Middle East, North Africa, Russia and Turkey, according to a regulatory filing. The agreement calls for BioMedica to perform clinical trials, seek regulatory approvals and market Onalta within those territories.
Molecular Insight said it retained its rights to develop and sell Onalta in the U.S., Japan and other regions in Asia. The deal’s specifics, in terms of consideration, were not disclosed.
Molecular Insight also said it secured a contract manufacturing deal with Germany-based Eckert & Ziegler to produce and deliver Onalta for BioMedica’s clinical trials. Pending regulatory approval, Eckert & Ziegler also is expected to produce Onalta for potential commercial sales.
Onalta is designed to treat metastatic carcinoid and pancreatic neuroendocrine tumors in patients who have experienced little-to-no success with conventional therapies. The European Medicines Agency, the continent’s equivalent to the U.S. Food and Drug Administration, recently granted Onalta orphan drug status, a fast-track approval category reserved for potential therapies targeting severe diseases that affect small populations.
Molecular Insight booked $349 million in revenue and a net loss of $31.9 million during the six months ended June 30.
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