Genta Inc. announced Thursday that it has entered into acollaborative agreement with a French clinical studiesorganization that could be worth upwards of $10 million to theSan Diego company.
The Centre de Pharmacologie Clinique et d'EvaluationTherapeutiques (CPCET), which was created by a regionalagency of the French government in Marseilles, will conductclinical trials on up to nine of Genta's products, which thecompany is developing itself or are part of its joint venturewith the Swiss firm Jagotec AG. These would includedermatology, Anticode and Geomatrix (an oral-deliverytechnology)-based pharmaceuticals.
Perhaps the first product to trial will be Genta's G-301, atopical formulation of methotrexate for treating severepsoriasis.
This international collaboration's activities are contingent on itsreceiving broad French government support -- including tax-free grants and other subsidies to conduct clinical trials, the useof facilities, R&D tax credits and hiring incentives -- whichcould exceed $10 million.
"This support could provide the majority of the cost ofconducting clinical trials," said Kenneth Brown, Genta's directorof business development. As well, the data gathered in Frenchclinical trials could probably be used to "support productregistration" in the U.S., Brown told BioWorld. This agreement"greatly expands Genta's capacity and capability to conductclinical trials," he added.
"This collaboration can significantly accelerate our plans toestablish European operations and to develop pharmaceuticalsfor European registration," said Thomas Adams, Genta's chiefexecutive officer.
Genta's stock (NASDAQ:GNTA) was up $1.75 a share onThursday, to $10.25.
-- Jennifer Van Brunt Senior Editor
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