Gensia Pharmaceuticals Inc. and Genta-Jago, a joint venturebetween Genta Inc. of San Diego and the private Swiss companyJagotec AG, announced Monday that they have formed acollaboration to develop, manufacture and commercialize oralproducts intended for treating cardiovascular disease usingGeomatrix's controlled-release drug delivery technology.
The collaborators will use the Geomatrix technology to developonce-daily oral controlled-release formulations of certaincardiovascular products now marketed as multiple-doseformulations. These products achieved worldwide sales in 1991of $5.5 billion.
Genta-Jago will conduct the preclinical development, whichGensia (NASDAQ:GNSA) of San Diego will fund. Gensia will alsofund the products' formulation, and will be responsible forclinical development, regulatory submissions and marketing.
Gensia will also get the exclusive rights to market anddistribute the products in North America, Europe and certainother countries. Genta-Jago will receive milestone paymentsbased on regulatory submissions and approvals, and Jagotecwill retain European marketing rights for Gensia's commercialrequirements.
Genta-Jago will have co-promotion rights to certain productsdeveloped by this collaboration if Genta (NASDAQ:GNTA)develops and commercializes cardiovascular products usingGenta's patented Anticode technology.
Jagotec's Geomatrix drug delivery technology allows drugs tobe retained in the stomach for an extended period of time.Genta and Jagotec entered into an agreement last year todevelop and market controlled-release formulations of morethan 20 conventional therapeutics and six Anticode projects insix therapeutic areas.
And for Gensia, which is developing pharmaceuticals fortreating disease, "the potential use of Geomatrix controlled-release technology in combination with our adenosineregulating agent (ARA) technology may lead to innovative newproducts in the treatment of cardiovascular disease," said DavidHale, Gensia's president and chief executive officer.
-- Jennifer Van Brunt Senior Editor
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