Daiichi Sankyo gains rights to potential blockbuster cancer drug
pharmafile | March 2, 2011 | News story | Research and Development | BRAF protein, Daiichi Sankyo, PLX4032, Plexxikon, melanoma, personalised medicine
Daiichi Sankyo has purchased US-based discovery firm Plexxikon for $805 million, gaining access to its potential blockbuster melanoma drug PLX4032.
Co-developed by Roche and Plexxikon, PLX4032 is an investigational, oral, small molecule designed to selectively inhibit a cancer-causing mutated form of the BRAF protein.
The Japanese pharma firm will now gain Plexxikon’s partnership rights to the drug and continue to co-develop PLX4032 with Roche.
PLX4032 has impressed in recent phase III trials for malignant melanoma, a particularly aggressive form of skin cancer with few treatment options.
Depending on the drug’s performance Plexxikon could also be in-line to receive additional milestone payments totalling $130 million.
Full data will be presented at a medical meeting later this year, but it has been highly tipped with analysts at Jefferies International predicting peak sales of $1 billion.
Joji Nakayama, chief executive of Daiichi Sankyo, said: “With the acquisition of Plexxikon, we see an opportunity to accelerate the building of our oncology franchise, particularly with the opportunity to co-promote PLX4032 as a very exciting personalised medicine.
“Moreover, we have been impressed by the productivity and quality of Plexxikon’s pipeline, and discovery and early development capabilities.”
Nakayama said he intends to provide a “high degree of independence” to the Plexxikon group in order to support their continuing success.
In addition to PLX4032, Plexxikon’s pipeline contains a number of other anti-cancer drugs, including PLX3397, an oral, selective kinase inhibitor co-targeting Fms, Kit and Flt3-ITD that’s currently in the late stages of a phase I dosing trial.
K. Peter Hirth, chief executive of Plexxikon, said: “We are particularly proud of the advancement of PLX4032 as a truly personalised medicine combined with a companion diagnostic, and our near-term opportunity for commercialisation.
“We are pleased that Daiichi Sankyo recognises the value not only of the commercial opportunity of PLX4032, but also of Plexxikon’s robust pipeline and discovery engine.”
Hirth added that with Daiichi, he hopes to leverage Plexxikon’s discovery and development capabilities in a “unique but supportive structure”.
Ben Adams
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