US Nuclear Regulatory Commission issues a licensing decision under 10 CFR Part 35 Subpart E for radium-223 dichloride
Not Intended for US Media
Oslo, Norway, 14 January 2013 - Algeta ASA (OSE: ALGETA) announces that the US
Nuclear Regulatory Commission (NRC) has issued a licensing decision on the
medical use of radium-223 dichloride (radium-223). The NRC licensing decision
follows the recommendation from the Advisory Committee on the Medical Use of
Isotopes (ACMUI) report, dated 20 November 2012.
Radium-223 is an investigational agent and is not approved by the European
Medicines Agency (EMA), the US Food and Drug Administration (FDA) or other
health authorities.
The US NRC has ruled that sites can procure and administer radium-223 under 10
CFR Part 35, Subpart E, which includes 10 CFR § 35.300. It has also ruled that
physicians authorized under 10 CFR § 35.390 or 10 CFR § 35.396 can be authorized
for the medical use of radium-223. The US NRC has notified the Agreement States
regarding their licensing decision on radium-223.
In December 2012, Bayer submitted a Marketing Authorization Application (MAA) to
the European Medicines Agency (EMA) and a New Drug Application (NDA) to the US
Food and Drug Administration (FDA) for radium-223 for the treatment of
castration-resistant prostate cancer (CRPC) patients with bone metastases.
Radium-223 has been granted fast track designation for this indication by FDA.
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About Radium-223 Dichloride
Radium-223 dichloride (radium-223), formerly referred to as Alpharadin, is a
therapeutic alpha particle-emitting pharmaceutical with targeted anti-tumor
effect on bone metastases in development for CRPC patients with bone metastases.
In September 2009, Algeta signed an agreement with Bayer Pharma AG (Berlin,
Germany) for the development and commercialization of radium-223. Under the
terms of the agreement, Bayer will develop, apply for global health authority
approvals, and commercialize radium-223 globally. Algeta will co-promote radium-
223 with Bayer in the US, and is eligible for milestones as well as royalties on
Bayer's sales outside the US. The ALSYMPCA trial was initiated by Algeta in June
2008.
For further information, please contact:
Mike Booth +47 2202 4510
Communications & Corporate Affairs ir@algeta.com
Media enquiries:
Mark Swallow +44 207 638 9571
Citigate Dewe Rogerson mark.swallow@citigatedr.co.uk
Knut Ekern +47 22 04 82 00
Gambit Hill & Knowlton knut.ekern@hkstrategies.com
US investor enquiries:
Tricia Swanson +1 646 378 2953
The Trout Group tswanson@troutgroup.com
About Algeta
Algeta is a company focused on developing novel targeted therapies for patients
with cancer based on its alpha-pharmaceutical platform. The Company is
headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in
Cambridge, MA performing commercial marketing operations in the US. Algeta is
listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please
visit www.algeta.com.
Forward-looking Statements
This news release contains certain forward-looking statements that are based on
uncertainty, as they relate to events and depend on circumstances that will
occur in the future and which, by their nature, may have an impact on results of
operations and the financial condition of Algeta. Such forward-looking
statements reflect our current views and are based on the information currently
available to Algeta. Algeta cannot give any assurance as to whether such forward
looking statements will prove to be correct. These forward looking statements
include statements regarding our anticipated co-promotion of radium-223 in the
US. Â There are a number of factors that could cause actual results and
developments to differ materially from those expressed or implied by these
forward-looking statements. These factors include, among other things, risks or
uncertainties associated with the ability to identify and hire a sufficient
number of qualified employees for the US field force, growth management, general
economic and business conditions and the pricing environment, the impact of
competition, the ability to successfully commercialize radium-223, the risk that
costs associated with the co-promotion of radium-223 may be greater than
anticipated, manufacturing capacity, the risk of non-approval of patents not yet
granted, risks in obtaining regulatory approvals for radium-223 and the other
risks and uncertainties described in our annual report.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Press release:
http://hugin.info/134655/R/1669998/542661.pdf
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originality of the information contained therein.
Source: Algeta ASA via Thomson Reuters ONE
[HUG#1669998]