18th Dec 2009 07:00
BTG Licenses ReGel® to Allergan for use in diseases of the eye
London, UK, 18 December 2009: BTG plc (LSE: BGC), the specialty pharmaceuticals company, today announces that it has licensed exclusive worldwide rights to Allergan to develop products for diseases and conditions of the eye using BTG's ReGel® drug delivery system. Under the terms of the agreement, BTG will receive an undisclosed upfront payment, and potential additional future milestones and royalties on product sales.
ReGel® is a novel thermosetting biodegradable gel that solidifies when injected into the body and is designed to provide high local concentrations of a drug for a sustained period.
BTG is using ReGel® in OncoGel™, an investigational new drug that is designed to deliver sustained high concentrations of the chemotherapy agent paclitaxel at the tumour site while minimising exposure to other organs. An ongoing Phase IIb study in patients with oesophageal cancer is assessing the effects of OncoGel™ when administered in combination with chemotherapy and radiotherapy before surgery on tumour response and other measures including survival.
Louise Makin, BTG's Chief Executive Officer, commented: "We are pleased that our novel drug delivery system ReGel®, which we are using in a Phase IIb study in oesophageal cancer, will now be developed for ophthalmic indications. We will continue to explore additional opportunities to extend its use into other fields."
For further information contact:
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BTG |
Financial Dynamics |
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Andy Burrows, Director of Investor Relations +44 (0)20 7575 1741; mobile: +44 (0)7990 530605 Rolf Soderstrom, Chief Financial Officer +44 (0)20 7575 0000 |
Ben Atwell +44 (0)20 7831 3113 |
About BTG
BTG is an international specialty pharmaceuticals company that is developing and commercialising products targeting critical care, cancer, neurological and other disorders. The company is also seeking to acquire new products to develop and market to hospital specialists, and is building a sustainable business financed by revenues from sales of its critical care products and from royalties and milestone payments on partnered products. For further information, visit: www.btgplc.com.
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