Algeta has built its own commercial operation in the US where it co-promotes Xofigo with Bayer. The company is also expanding its portfolio in the oncology space.
In September 2009, Algeta signed an agreement with Bayer Pharma AG (Berlin, Germany) for the development and commercialization of Xofigo (radium Ra 223 dichloride). Under the terms of the agreement, Bayer will develop, apply for global health authority approvals, and commercialize Xofigo globally.
Algeta is co-promoting Xofigo with Bayer in the US and will be eligible to receive 50 percent of the profits attributable to sales of the drug in the US and will be responsible for 50 percent of the costs of its commercialization in this territory. Algeta is also eligible for milestones as well as royalties on Bayer’s sales outside the US.
Algeta is also moving new research toward the clinical stage. It is looking to have a candidate from the new platform based on the alpha-emitter thorium-227 ready for a clinical study in 2014. In working to advance its portfolio, Algeta seek to address clear, unmet clinical needs in the oncology space and potentially have a significant effect on patient care.