Progenics Pharmaceuticals and ROTOP Pharmaka GmbH Announce European Collaboration

Progenics Pharmaceuticals (NASDAQ:PGNX) has announced an exclusive agreement with ROTOP Pharmaka GmbH to develop and commercialize Progenics’ 1404 prostate specific membrane antigen (PMSA) targeted small molecule SPECT-CT agent for prostate cancer.

As quoted in the press release:

“This European partnership with ROTOP further expands the global reach of our PSMA-targeted prostate cancer portfolio and establishes a development path forward for 1404 in this important market, where SPECT/CT is the standard nuclear imaging modality,” said Mark Baker, Chief Executive Officer of Progenics. “ROTOP has deep experience developing, producing and distributing radiopharmaceutical products, which makes them well suited to advance the development of 1404 in Europe, and ultimately improve physician treatment decisions of prostate cancer.”

Under the terms of the agreement, ROTOP will receive an exclusive license to and will be responsible for the development, regulatory approvals and commercialization of 1404 in the covered European territory. In exchange, Progenics is eligible for double-digit, tiered royalties based on future sales of 1404 in Europe.

In the coming months, ROTOP will hold an expert panel meeting with KOLs in the PSMA imaging field as well as regulatory experts to review existing data on 1404 and obtain guidance on the clinical development. Upon agreement on a path forward, ROTOP will request a meeting with European regulators and start a clinical trial in early 2020.

Click here to read the full press release.