Spectrum Pharmaceuticals acquires Talon Therapeutics
Acquisition adds a novel FDA-approved hematology product to Spectrum\'s portfolio as well as a Phase 2 oncology supportive care drug, Menadione Topical Lotion
Spectrum Pharmaceuticals, a biotechnology company with a primary focus in hematology and oncology,has entered into an agreement to acquire Talon Therapeutics, a biopharmaceutical company based in South San Francisco, California, for approximately US$11.3m.
Through this acquisition, Spectrum will gain worldwide rights to Marqibo, an FDA-approved hematology product for the treatment of leukemia, as well as a Phase 2 product, Menadione Topical Lotion for the treatment of the skin toxicity associated with epidermal growth factor receptor anti-cancer agents, such as Erbitux. Marqibo, is a novel, sphingomyelin-based liposome encapsulated formulation of vincristine indicated for the treatment of adult patients with Philadelphia chromosome-negative (Ph-) acute lymphoblastic leukemia (ALL) in second or greater relapse or whose disease has progressed following two or more anti-leukemia therapies.
Vincristine, a microtubule inhibitor, is widely used in combination regimens for treatment of adult and pediatric hematologic and solid tumor malignancies. Spectrum expects to launch Marqibo with the same sales force that sells its current oncology drugs, Folotyn (pralatrexate injection) and Zevalin (ibritumomab tiuxetan) injection for intravenous use.
'With this acquisition, we have added another drug that fits very well with our hematology and oncology franchise and addresses an unmet medical need for cancer patients,' said Dr Rajesh C. Shrotriya, Chairman, CEO and President of Spectrum Pharmaceuticals.
