Camurus Receives Option-exercise Milestone for Octreotide FluidCrystal(R) Product CAM2029

AsiaNet 54163

LUND, Sweden, Sept. 10, 2013 /PRN=KYODO JBN/ --

     Camurus announced today that Novartis has exercised its option to acquire

an exclusive license for the further development and worldwide

commercialization of CAM2029 for treatment of patients with acromegaly and

neuroendocrine tumors (NETs). The license also covers additional future

products based on the Camurus' FluidCrystal(R) Injection depot technology.

    (Logo: http://photos.prnewswire.com/prnh/20130910/638211 )

    The option exercise is the next stage in the collaboration, option and

license agreement between Novartis and Camurus executed in December 2011. It

triggers an undisclosed milestone payment to Camurus from eligible potential

payments of up to US$ 700 million, subject to achievement of predefined

development, regulatory and commercial milestones for the products included in

the agreement. In addition, Camurus is entitled to royalties on global product

sales.

    CAM2029 is a novel, long-acting octreotide product that has been developed

by Camurus with the goal of easy subcutaneous administration in the treatment

of patients with acromegaly and NETs. CAM2029 has received orphan drug

designation by EMA for the treatment of acromegaly and has been studied in

three clinical Phase I trials, assessing pharmacokinetics, pharmacodynamics and

safety after single and repeat dosing. Following the option exercise, Novartis

will assume responsibility for further clinical development of CAM2029,

including any Phase III studies, product registration and worldwide

commercialization.

    "We are very proud of the successful development of our collaboration and

look forward to continue assisting Novartis in the clinical development and

registration efforts for CAM2029," says Fredrik Tiberg, President and CEO of

Camurus. "Novartis' decision to acquire full commercialization rights to

CAM2029 and related products is a key milestone for Camurus that further

validates our advanced delivery technologies and clinical product development

capacity. Novartis' continued investment in this program strengthens our

strategic relationship and enables Camurus to expand its proprietary pipeline

of new and innovative therapies for serious diseases."

    Since the transaction triggers relevant value thresholds, Novartis' binding

commitment to complete the exercise of the option is subject to the US's

Hart-Scott-Rodino Antitrust Improvements Act of 1976 (15 U.S.C. Section18a)

(HSR).

    About CAM2029 CAM2029 is a novel, ready-to-use, long-acting octreotide

product for treatment of acromegaly and neuroendocrine tumors (NETs) based on

Camurus' proprietary FluidCrystal(R) delivery system. Octreotide chloride, the

active ingredient of CAM2029 is a synthetic, cyclic octapeptide, an eight amino

acid analogue of the peptide hormone somatostatin. The CAM2029 product is

designed for easy and patient-friendly drug administration. While traditional

depot therapeutics frequently comprise complex microsphere technology for

intramuscular injection, Camurus' FluidCrystal(R) depot allows for subcutaneous

injection of a small volume liquid that transforms into a biodegradable liquid

crystal gel at the site of injection. Thereby the drug compound is effectively

encapsulated, providing rapid onset and long-acting octreotide release.

    About Camurus Camurus is a research-based pharmaceutical company dedicated

to developing innovative therapeutics for diseases with high unmet medical

needs. The company's current pipeline includes products for treatment of pain,

opiate addiction, cancer and for use in endocrinology. Based on its advanced

nanoscale drug-delivery technology platform, FluidCrystal(R), Camurus is also

active in a number of development partnerships and research collaborations with

international pharmaceutical and biotech companies.

    For further information, please contact:

    Fredrik Tiberg, President & CEO

    Tel: +46(0)46-286-4692

    fredrik.tiberg@camurus.com

    http://www.camurus.com

    SOURCE: Camurus