Santarus, Inc. (NASDAQ: SNTS), a specialty biopharmaceutical company, has expanded its development pipeline with the addition of two novel biologic drug candidates focused on specialty markets. Santarus has signed exclusive license and supply agreements with Pharming Group NV (NYSE Euronext: PHARM) granting Santarus the right to commercialize RHUCIN® (recombinant human C1 inhibitor) in North America for the treatment of acute attacks of hereditary angioedema (HAE) and other future indications. Santarus also has acquired the worldwide rights to a novel biologic drug candidate, an anti-VLA-1 antibody that has shown activity in multiple preclinical models of inflammatory and autoimmune diseases, through the acquisition of Covella Pharmaceuticals, Inc., and by amending a related license agreement with Biogen Idec MA Inc.
“The addition of these two promising product candidates to our development pipeline reflects an important step toward transforming Santarus into a premier biopharmaceutical company focused on specialty markets”
"The addition of these two promising product candidates to our development pipeline reflects an important step toward transforming Santarus into a premier biopharmaceutical company focused on specialty markets," said Gerald T. Proehl, president and chief executive officer of Santarus. "We believe that these biologic products offer significant future revenue potential with attractive proprietary positions, including 12 years of data exclusivity if approved by the FDA, strong intellectual property and significant manufacturing barriers to competition. With successful clinical development and commercialization, these product candidates have the potential to address substantial unmet medical needs and dramatically enhance shareholder value."
He added, "In the past week we have completed three business development transactions under financial terms that are primarily success-based that add an attractive commercial product and two development products to our portfolio. We now have a diverse development pipeline with three late-stage product candidates - RHUCIN, budesonide MMX® and rifamycin SV MMX® - in Phase III clinical programs and a promising earlier stage anti-VLA-1 antibody, all of which offer significant commercial potential. Last week we announced the expansion of our commercial portfolio with the addition of CYCLOSET®, an FDA-approved, novel product to treat type 2 diabetes. CYCLOSET is an excellent strategic fit with GLUMETZA® that allows us to leverage our sales organization. We believe that our cash, cash equivalents and short-term investments and borrowings available under our line of credit with Comerica Bank will be sufficient to fund our operations at least through the end of 2011."
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