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TopoTarget buys back belinostat

TopoTarget has bought back rights for an investigational cancer treatment product and now has full control of clinical development of the drug
TopoTarget has bought back rights for an investigational cancer treatment product and now has full control of clinical development of the drug.

The company bought back the rights from biopharmaceutical company CuraGen, which was involved in partnership development of generic drug, belinostat. CuraGen will receive an upfront payment of $39m in a combination of cash and stocks.

Dr Peter Buhl Jensen, chief executive officer of TopoTarget, said: "CuraGen has been a good partner and helped us over a high-risk period. More than 500 patients have been treated with belinostat and we are very enthusiastic about its efficacy and safety. I believe that this drug is broadly applicable and unique on its flexible dosing, and its lack of toxicity."

Belinostat, which is due to enter registration trial in the second half of 2008, has so far shown promising performance as a potential cancer treatment. It has been developed for use in conjunction with standard chemotherapy drugs and for multiple cancer indications.

Dr Timothy Shannon, president and chief executive officer of CuraGen, said: "This transaction also allows TopoTarget to focus on belinostat as it potentially moves into a phase III trial in patients with PTCL on the second half of 2008. They have been good partners and we wish them success with the continued development of the product."

TopoTarget will now reorganise manufacturing and company plans to focus its efforts on belinostat R&D, as well as pursuing orphan drug status for the treatment of peripheral t-cell lymphoma (PCTL).

22nd April 2008

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