Boston, MA 09/26/2014 (wallstreetpr) – Biopharmaceutical company, Pharmacyclics, Inc. (NASDAQ:PCYC) disclosed that it has struck an agreement with French pharmaceutical company, Servier, paving the way for ending the collaboration relating to pan-HDAC inhibitor compounds.
Collaboration Ends
The company said that the agreement was mutual and amicable, its statement indicated. As a result, abexinostat compound would return to the fold of Pharmacyclics, Inc. (NASSDAQ:PCYC) for global development, as well as, commercialization rights.
The U.S. Company indicated that a provisional application for patent was filed with the Patent and Trademark Office last year in the U.S. for its abexinostat tosylate. If the Patent office issues certificate, the product would get patent protection till 2034.
Pharmacyclics said that it would also explore the full prospect that the compound may offer. Therefore, it intends to provide an update during the middle of next year on this program.
Management Comments
The Pharmacyclics, Inc. (NASSDAQ:PCYC)’s Chairman and CEO, Bob Duggan, thanked Servier for their contribution in taking abexinostat to the current stage of development including filing of a provisional patent application that had the potential to extend patent protection till 2034. However, he said that since the company has got the complete ownership of the abexinostat asset, it would go into another period of evaluation to explore its effectiveness in oncology.
Similarly, Servier Business Development and Scientific Cooperation VP, Pascal Touchon, felt happy to work with Pharmacyclics to evaluate abexinostat in a number of cancers, which was in tune with its firm commitment of it to oncology field.
Appointment Of CCO
Last month, Pharmacyclics, Inc. (NASSDAQ:PCYC) announced the appointment of Shawn Cline Tomasello as the company’s Chief Commercial Officer. She carried with her a three decades of experience and was the head of Celgene Corporation (NASDAQ:CELG)’s Hematology and Oncology segment.
She has led commercial teams during her career in two of the global hematology products, according to its statement. The company believes that her experience in the field would be useful to its growth.
