New Front in Cancer Fight
New Front in Cancer Fight [Boston Herald]
From Boston Herald (MA) (September 19, 2012)
Sept. 18--A new Cambridge office has put Norwegian pharmaceutical developer Algeta ASA on the cusp of commercialization for its lead drug candidate, which is already showing positive clinical trial results in prostate cancer patients with bone metastases.
"While we may be new, we’ve moved to the front line of development within the community," Algeta U.S. President Jeff Albers told the Herald. "We’re excited to be here."
Algeta, which is headquartered in Oslo, signed an agreement with Bayer AG in September 2009 for the development and commercialization of radium-223 dichloride, which will be filed for approval with the U.S. Food and Drug Administration by the end of the year with a positioned market launch in the second half of 2013, Albers said.
Bayer Chairman and CEO Marijn Dekkers will be the keynote speaker today at the Boston College Chief Executives’ Club luncheon.
A co-promotion option in the agreement allowed Algeta to come stateside and set up its U.S. operations in a nearly 10,000-square-foot office at 210 Broadway in Cambridge. The office will only house between 15 and 20 employees, but is ready to help the company "launch the product in its current indication," Albers said.
Radium-223 dichloride, which had its first clinical trials in 2001, is an intravenous drug administered one time a month for six months in some prostate cancer patients with bone metastases. The drug demonstrates a 44 percent increase in overall survival compared to patients that receive the best standard of care, according to recent clinical trial results.
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Posted: September 2012