Santaris Pharma and Enzon Pharmaceuticals seal major deal  

2006.07.31
Danish biotech company Santaris Pharma and NASDAQ-listed Enzon Pharmaceuticals have entered a collaboration to co-develop and commercialize a series of innovative RNA Antagonists

Danish biotech company Santaris Pharma and NASDAQ-listed Enzon Pharmaceuticals have entered a collaboration to co-develop and commercialize a series of innovative RNA Antagonists based on Santaris Pharma’s LNA (Locked Nucleic Acid) technology and utilizing Enzon’s oncology drug development expertise.

The deal could bring Santaris Pharma a potential income of DKK 1.2 bn (USD 204 m) in milestone payments. Enzon has made an up-front payment of USD 8 m, with an additional USD 3 m payable upon the successful identification of certain LNA targets. The DKK 1.2 bn (USD 204 m) can be realized if Santaris and Enzon can successfully bring two preclinical development compounds for cancer treatment all the way to market. The deal also involves six additional proprietary RNA Antagonist candidates.

Henrik Stage, finance director of Santaris Pharma comments: "This is a vital forward step for us. The agreement gives us the means to maintain a high tempo in developing other candidates we are working with. It simply couldn't be better." Santaris Pharma now has enough cash in its tanks to finance development work through to 2008.

Through the collaboration, Enzon Pharmaceuticals and Santaris Pharma aim to build a unique portfolio of RNA Antagonist drugs with the potential to address some of the underlying genetic causes of disease and improve patient outcomes in the treatment of cancer. The news is reported by national daily newspaper Berlingske Tidende and on Santaris Pharma's website.

Link > Santaris Pharma 

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