SCICLONE PHARMACEUTICALS ANNOUNCES CLINICAL DEVELOPMENT/COMMERCIALIZATION AGREEMENT WITH SCHERING-PLOUGH K.K.
SAN MATEO, Calif., Jan. 27 /PRNewswire/ -- SciClone Pharmaceuticals, Inc. (NASDAQ-NMS: SCLN), today announced that its wholly-owned subsidiary, SciClone Pharmaceuticals International, Ltd., has signed a long term semi-exclusive licensing agreement with Schering-Plough K.K., the Japanese subsidiary of Schering-Plough Corporation (NYSE: SGP), for the development and commercialization of thymosin alpha 1 in Japan. Probable indications for marketing uses will be for chronic active hepatitis B and C as well as other possible indications such as adjuvant therapy for AIDS. Under the terms of the agreement, Schering-Plough K.K. will undertake development, registration and marketing of thymosin alpha 1 in Japan in return for paying SciClone's initial and milestone payments and buying bulk drug substance from SciClone. Contingent upon successful research and development results, development costs and payments to SciClone could reach $35 million. Schering-Plough K.K. will purchase all product from a SciClone business unit, which the company believes will generate significant revenues. Both companies will also collaborate on research into new uses for thymosin alpha 1 including possible co-therapy with immunomodulators, such as alpha interferon, which could lead to a number of new indications. Schering-Plough will have access to ownership of new developments in Japan, while SciClone will hold all rights in its licensed territories. "We are extremely pleased to be working with Schering-Plough, a company renowned as a pioneer in immunology and biotechnology research," said Thomas E. Moore, chairman and CEO, SciClone Pharmaceuticals. "As we move forward to gaining regulatory approval for thymosin alpha 1 in Japan, Schering-Plough K.K.'s extensive experience in the Japanese market, and the approval process for hepatitis B and C in particular, will be invaluable to SciClone." Hepatitis is a major problem in Japan with an estimated 3 million hepatitis B and C carriers. Thymosin alpha 1 has been shown in published U.S. clinical trials to be effective in halting the progression of chronic active hepatitis B disease and returning liver function to normal in approximately 75 percent of patients with virtually no reported side effects. The agreement between SciClone and Schering-Plough K.K. supports SciClone's strategy of expanding marketing capabilities in Japan. Recent developments have included the establishment of wholly-owned subsidiaries in Japan, Taiwan, as well as Singapore, which is the regional office for marketing to eight other countries in Asia. Schering-Plough K.K., of Osaka, Japan, is the largest and among the fastest growing international subsidiaries of Schering-Plough Corporation, of Madison, N.J., which is a research-based company engaged in the discovery, development, manufacturing and marketing of pharmaceutical and health care products worldwide. SciClone Pharmaceuticals, Inc., of San Mateo, is primarily engaged in the acquisition, development and marketing of pharmaceuticals on a worldwide basis. The company's primary focus is on therapeutics for infectious diseases (such as hepatitis B), cancers and immune system disorders that are chronic or life threatening, and place a major burden on the world's health care systems. -0- 1/27/93 /CONTACT: Thomas E. Moore, chairman and CEO of SciClone Pharmaceuticals, Inc., 415-358-3452; or Emily Magowan or Liz Landy of Burns McClellan, 212-505-1919, for SciClone Pharmaceuticals/ (SCLN SGP)
CO: SciClone Pharmaceuticals, Inc.; Schering-Plough K.K. ST: California, New Jersey IN: MTC SU: LIC
WB -- NY058 -- 9638 01/27/93 12:05 EST
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|Date:||Jan 27, 1993|
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