On January 31, 2012 Spectrum Pharmaceuticals (NasdaqGS: SPPI) reported that it has entered into a co-development and commercialization agreement with Hanmi Pharmaceutical Company for SPI-2012 (formerly known as "LAPS-GCSF"), a drug for the treatment of chemotherapy induced neutropenia based on Hanmi’s proprietary LAPSCOVERY Technology (Press release, Spectrum Pharmaceuticals, JAN 31, 2012, View Source [SID:1234508777]).
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Granulocyte colony-stimulating factor (GCSF) stimulates the production of white blood cells by the bone marrow. A recombinant form of GCSF is used in appropriate cancer patients to accelerate recovery from neutropenia after chemotherapy, allowing higher-intensity treatment regimens to be given at full-dose and on schedule. Chemotherapy can cause myelosuppression and unacceptably low levels of white blood cells, making patients prone to infections, hospitalizations, and interruption of additional chemotherapy treatments. The worldwide market for GCSF-related drugs was over $5 billion in 2011.
LAPSCOVERY (Long Acting Protein/Peptide Discovery) is a platform technology that can be applied to various molecules including glycosylated proteins, modified or artificial peptides with unnatural amino acid sequences. LAPSCOVERY can select the optimal conjugation sites from the proteins or peptides to minimize the structural hindrance and maximize the pharmacological activity.
"We were very impressed by Hanmi’s platform technology and are delighted to add SPI-2012, our third biologic drug, to our mid-stage pipeline," said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. "Early evidence suggests that there could be advantages of SPI-2012 over currently approved therapies in increasing the rate and intensity of neutrophil recovery. We believe this agreement is consistent with our strategy of acquiring promising drug candidates at reasonable upfront and developmental costs, while maintaining significant economics for our shareholders in the long-term."
"Spectrum Pharmaceuticals has a proven history in in-licensing, developing and commercializing drugs. As a result, we expect this collaboration to help significantly advance SPI-2012 through the clinical and regulatory pathways, and commercial success," said Dr. Gwan-Sun Lee, Chief Executive Officer and President of Hanmi Pharmaceuticals.