Chugai Pharmaceutical Co., Ltd. ("Chugai") and Debiopharm GroupTM ("Debiopharm") announced today that on December 17, 2012, they entered into a licensing agreement regarding FF284 (called Debio 1347 by Debiopharm) discovered by Chugai and which is about to start clinical development in oncology.Under this license agreement, Chugai will grant Debiopharm an exclusive license to develop and commercialise FF284 in all countries worldwide including Japan. Under the same agreement, Chugai will grant a non-exclusive license to develop and commercialise a companion diagnostic for FF284. According to the terms of the license, Debiopharm and Chugai will collaborate to conduct a Phase I dose escalation study. In return for the license, Chugai will receive an upfront fee, milestone and royalty payments from Debiopharm.
"We are delighted that we have concluded a license agreement for the development and marketing of FF284 with Debiopharm." said Tatsuro Kosaka, President and COO of Chugai. "We will continue to cooperate with Debiopharm in order to deliver FF284 to cancer patients as soon as possible."
"We are happy to combine forces with Chugai for the development of Debio 1347," said Rolland-Yves Mauvernay, President and founder of Debiopharm Group™. "Due to its profile, Debio 1347 is expected to become a tailored treatment with high anti-tumour activity, which is very promising."
Chugai Pharmaceutical [Head Office: Chuo-ku, Tokyo; Chairman & CEO: Osamu Nagayama] is one of Japan's leading research-based pharmaceutical companies with strengths in biotechnology products. Chugai, based in Tokyo, specialises in prescription pharmaceuticals and is listed on the 1st section of the Tokyo Stock Exchange. As an important member of the Roche Group, Chugai is actively involved in R&D activities in Japan and abroad. Specifically, Chugai is working to develop innovative products which may satisfy the unmet medical needs, mainly focusing on the oncology area.
In Japan, Chugai's research facilities in Gotemba and Kamakura are collaborating to develop new pharmaceuticals and Ukima is conducting research for technology development for industrial production. Overseas, Chugai Pharma USA and Chugai Pharma Europe are engaged in clinical development activities in the United States and Europe.
The consolidated revenue in 2011 of Chugai totaled 373.5 billion yen and the operating income was 62.4 billion yen. We are aiming at the consolidated revenue of 418.5 billion yen and operating income of 80 billion yen in 2012.