Pacific Beach BioSciences Licenses Novel Fluoroquinolone From Korean Firm Dong Wha
Pacific Beach BioSciences, a San Diego start-up, and Dong Wha Pharmaceutical have signed a development and commercialization deal for zabofloxacin, a novel fluoroquinolone antibiotic discovered by the Korean pharma, the companies announced Aug. 10.
PB BioSciences, which was founded in 2006 by Paramount BioSciences to develop infectious disease therapeutics, plans to pursue the antibiotic (PB-101/DW-224a) in both intravenous and oral formulations for respiratory tract infections. Dong Wha has completed a Phase I dosing study of the oral formulation in healthy subjects.
"Zabofloxacin has the potential to become a new work-horse antibiotic for the treatment of community acquired respiratory infections," PB BioSciences CEO Matthew A. Wikler said.
The antibiotic was "highly active" in in vitro testing against respiratory pathogens such as Streptococcus pneumoniae, including strains resistant to other antibiotics, the companies said, adding that "the spectrum of activity ... includes those bacterial strains that are responsible for most community-acquired respiratory infections."
Under the agreement PB Biosciences will have exclusive worldwide development and marketing rights for zabofloxacin, with the exception of Japan, Korea, China, Taiwan, Singapore, Indonesia, India, Thailand, Malaysia, Vietnam, Hong Kong, Australia and New Zealand.
In return, PB BioSciences will make an undisclosed one-time upfront payment to privately held Dong Wha, to be followed by potential development and commercialization milestone payments of up to $56.5 million, as well as royalties on sales of the product.
PB BioSciences' parent Paramount BioSciences describes itself as a "unique drug development firm and life sciences merchant bank" that has created approximately 40 start-up companies over the past 15 years. Those companies include PolaRx Biopharmaceuticals, developer of the cancer drug arsenic trioxide, which became Seattle-based Cell Therapeutics' first commercial product when it was launched in late 2000 as Trisenox. CTI acquired PolaRx in January of that year.
If successful, the new fluoroquinolone would be up against Johnson & Johnson's market-leading fluoroquinolone Levaquin (levofloxacin). In the second quarter of 2007, J&J reported worldwide sales of $357 million for Levaquin for the quarter and $832 million year to date. J&J licensed levofloxacin from the Japanese pharma Daiichi, now Daiichi Sankyo.
Other currently marketed fluoroquinolones include Bayer's Avelox (moxifloxacin), Oscient's Factive (gemifloxacin) and ciprofloxacin (Bayer's Cipro and generics).
Dong Wha announced July 3 that it had inked a deal with Proctor & Gamble Pharmaceuticals for development and commercialization of a novel class of molecules discovered by the Korean firm for the treatment of osteoporosis. The deal is worth as much as $511 million to Dong Wah, excluding potential royalties.
Dong Wha, which historically has been a provider of medical and pharmaceutical chemicals, may also negotiate a supply agreement with P&G to provide active pharmaceutical ingredients and finished products to the company and its affiliates.
- Shirley Haley
This article is reprinted from "The Pink Sheet" DAILY – August 13, 2007
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