TALLINN - The biotechnology company Celecure has signed a worldwide licensing agreement with Sweden's Angitia AB for developing and bringing to the market a new anti-cancer drug, SB101.
Tarmo Kivi, manager of Celecure, explained on Oct. 19 that SB101 is a potential medicine that could, thanks to a novel working mechanism, result in a breakthrough in the treatment of cancer.
"SB101 inhibits the formation of blood vessels in cancerous growths, as a result of which nutrients and oxygen necessary for the development of cancer are prevented from reaching cells of the growth, which in turn blocks the development of the growth," Kivi explained. "Celecure is now about to complete preclinical research of the preparation and plans to start clinical research in 2006."
Around the world there is enormous demand for efficient anti-cancer drugs that have as few side effects as possible, Kivi noted. SB101 works even in very small amounts.
Under the agreement, Celecure will remunerate the Swedish company in accordance with the results achieved through varying stages of development of the medicine. Once the product reaches the market, additional royalties will be paid depending on sales, giving the contract an estimated value of 20 million euros, Kivi said.
In addition, Celecure is developing a medicine complex, CC0101, designed for the treatment of growths in which the specific AFP receptor is found. The complex kills cancer cells without damaging normal cells.
Founded in 2002, the Celecure Group has a stock capital of 5.2 million kroons (330,000 euros), of which 59 percent belongs to businessman Rainer Nolvak. The researchers involved in the project own the remaining shares.
