BioWorld International Correspondent

PARIS - Novexel SA and Indevus Pharmaceuticals Inc. signed a definitive agreement for Indevus to out-license worldwide rights of aminocandin to Novexel.

Aminocandin is a member of the echinocandin class of anti-fungal compounds used to treat a range of systemic invasive infections. Indevus, of Lexington, Mass., originally licensed worldwide rights to the compound from the French pharmaceutical company Sanofi-Aventis in 2003.

Paris-based Novexel agreed to make an up-front payment of $1.5 million to Indevus, which could be followed by a $2 million payment upon the initiation of Phase II trials, potential milestones totaling an additional $41 million and royalties on future sales of aminocandin. In addition, the deal relieves Indevus from making significant milestone and royalty payments to its licensor.

Novexel was established in December 2004 as a spin-off from Aventis Pharma, a subsidiary of Paris-based Sanofi-Aventis, which assigned it the original license agreement covering aminocandin, along with a number of other anti-infective assets. Novexel will be responsible for all future development, manufacturing and commercialization activities and costs.

Indevus initiated a Phase I trial of aminocandin in October 2004, which established a favorable pharmacokinetic and systemic safety profile for the product. But the trial was suspended after cases of local vein irritation were observed. Indevus says it has since developed new formulations of the compound that might overcome that problem.

The CEO of Indevus, Glenn Cooper, pointed out that the company had been looking for "a partner exclusively focused on infectious diseases that could devote the required resources" to its development. In his view, Novexel was an "ideal partner" because it was "created out of the anti-infective unit of Sanofi-Aventis."

For his part, the CEO of Novexel, Iain Buchanan, welcomed the "return of aminocandin to our extensive portfolio of anti-bacterial and anti-fungal compounds," saying it would become "an important asset in our broad portfolio." He added that Novexel would "remain focused on the discovery, development and rapid progression to market of novel anti-bacterial and anti-fungal assets" targeting hospital-acquired infections in particular.