February 02, 2021 14:21    ET | Source:    Medexus Pharmaceuticals    Inc      
    Orphan    Designated Drug with August 2021 PDUFA date  
    Management to host conference call at 10:00    AM Eastern Time on February 3, 2021 and  
    Key    Opinion Leader webinar to be held at 2:00 PM Eastern Time on    February 5, 2021  
    TORONTO and    CHICAGO and MONTREAL and WEDEL, Germany, Feb. 02, 2021 (GLOBE    NEWSWIRE) -- Medexus Pharmaceuticals Inc.    (Medexus) (TSXV: MDP) (OTCQX:    MEDXF)(Frankfurt: P731) is pleased to    announce that it and its wholly-owned United States-based    subsidiary, Medexus Pharma, Inc. (Medexus    Pharma and together with Medexus, the    Company) entered into a Commercialization    and Supply Agreement with medac Gesellschaft fr klinische    Spezialprparate m.b.H. (medac), pursuant to    which medac has granted Medexus Pharma an exclusive license to    commercialize treosulfan, a bifunctional alkylating agent, in    the United States (the License    Agreement).  
    Treosulfan is    an innovative, orphan-designated agent developed for use as    part of a conditioning treatment for patients undergoing    allogeneic hematopoietic stem cell transplantation    (allo-HSCT). If approved by the U.S. Food    and Drug Administration (FDA), the Company    expects that a treosulfan-based regimen will be the first in a    new conditioning treatment class, Reduced Toxicity    Conditioning, resulting in a unique combination of improved    survival outcomes compared to reduced-intensity regimens and    decreased toxicity compared to standard myeloablative regimens.    A Prescription Drug User Free Act (PDUFA)    date to review the New Drug Application    (NDA) in respect of treosulfan by the FDA    has been scheduled for August 2021.  
    The Company    intends to leverage its strong, existing commercial    infrastructure in the United States to address the underserved    allo-HSCT market through its commercialization of treosulfan.    medac conducted a phase III randomized study (the    Phase III Study) comparing the results of    treosulfan-based therapy with busulfan-based reduced intensity    conditioning in advance of allo-HSCT for adult patients with    acute myeloid leukemia (AML) and    myelodysplastic syndrome (MDS) who were    considered ineligible for standard myeloablative conditioning    regimens. The planned confirmatory interim analysis of the    Phase III Study demonstrated that non-inferiority was achieved    in the treosulfan group compared to the busulfan group in    two-year event-free survival with 64.0% (95% CI 56.070.9) in    the treosulfan group and 50.4% (95% CI 42.857.5) in the    busulfan group (HR 0.65 [95% CI 0.470.90]); p=0.0000164    (adjusted p-value for testing non-inferiority of treosulfan    compared to busulfan).1Despite lacking    indications for use in patients with AML or MDS, busulfan is    the current market leading alkylating agent for allo-HSCT.    Prior to genericization in 2016, busulfan reached peak annual    sales of U.S. $126 million in the United    States.2  
    The NDA in    respect of treosulfan was filed by medac in August 2020 and    seeks FDA approval for use of treosulfan as part of a    conditioning regimen for allo-HSCT for adults with AML and MDS.    The NDA is supported by the completed follow-up results from    the Phase III Study covering all 570 randomized patients    including superiority testing, which may result in even    stronger claims than non-inferiority in a final label for    treosulfan, if approved by the FDA.3  
    On April 8,    2015, the FDA granted medac Orphan Drug Designation for    treosulfan as a conditioning treatment prior to allo-HSCT in    malignant and non-malignant disease in adults and pediatric    patients. In accordance with the Orphan Drug Act, seven years    of exclusivity for this indication is expected upon FDA    approval. According to the most recent data from the Center for    International Blood & Marrow Transplant Research (CIBMTR),    there were an estimated 9,028 allo-HSCT procedures in the    United States in 2018, growing at about 3% year over year.    Another 14,006 autologous-HSCT (auto-HSCT) procedures, which    also routinely feature conditioning regimens that include    alkylating agents, were completed that same    year.4  
    Treosulfan    was granted marketing authorization in combination with    fludarabine by the European Commission in June 2019, indicated    for use in combination with fludarabine as part of a    conditioning treatment prior to allo-HSCT in (i) adult patients    with both malignant and non-malignant diseases, and (ii)    pediatric patients older than one month with malignant    diseases. In Canada, Medexus is currently distributing    treosulfan via the Special Access Program.  
    H. Joachim    Deeg, MD, Professor of Medical Oncology at the University of    Washington School of Medicine, Professor of Clinical Research    at the Fred Hutchinson Cancer Research Center, and Physician at    the Seattle Cancer Care Alliance, commented, Treosulfan has    proven to be a potent drug for transplant conditioning in    several phase II trials for both malignant and non-malignant    disorders, conducted at our own Center and several other    institutions, earning the label high intensity, low toxicity.    Of note, clinically meaningful improvements in favor of the    treosulfan group for event-free survival, overall survival, and    transplant-related mortality were seen in medacs study, and a    treosulfan-based regimen promises to be the preferred standard    conditioning therapy for this study population, which    represents the growing population of older and comorbid    patients with AML or MDS, and beyond.  
    Mary    Horowitz, MD,MS,Professor of Hematologic Research    at the Medical College of Wisconsin andScientific    Director for the CIBMTR, commented, It is incredibly important    for clinicians to have more options for patients undergoing    allo-HSCT. I am very happy to see that medac and Medexus have    teamed up to work towards bringing treosulfan to the U.S.    market. The data on treosulfan thus far is highly encouraging,    suggesting it could fill an important gap for higher risk    patients who cannot tolerate the typical toxicity profile of    currently available high-intensity conditioning    regimens.  
    The License    Agreement  
    Upon entering    into the License Agreement, Medexus Pharma paid medac a    non-refundable upfront payment of U.S. $5 million. Under the    terms of the License Agreement, Medexus Pharma must also pay    medac (i) up to an aggregate of U.S. $55 million in    non-refundable regulatory milestone payments, contingent upon    the achievement of certain regulatory events in connection with    the FDAs review process (the Regulatory Milestone    Payments), and (ii) up to an aggregate of U.S. $40    million in non-refundable sales milestone payments, contingent    upon Medexus Pharmas achievement of certain net sales goals    (the Sales Milestone Payments, and together    with the Regulatory Milestone Payments, the Milestone    Payments). In addition, Medexus Pharma will pay medac    a low single-digit royalty on its net sales of treosulfan in    the United States.  
    The License    Agreement is effective as of today and continues until the    10th anniversary of FDA approval of the initial NDA,    unless earlier terminated by either the Company or medac in    accordance with their respective rights under the License    Agreement. Going forward, medac will continue with primary    responsibility for development and regulatory matters in    respect of treosulfan, including preparing and obtaining FDA    approval of the initial NDA. After such FDA approval, Medexus    Pharma will maintain regulatory approval of treosulfan in the    United States and leverage its significant commercial    experience in leading the commercialization effort for    treosulfan. medac will also be responsible for the    manufacturing and supply of treosulfan to Medexus Pharma in    accordance with the terms of the License Agreement. The Company    and medac will work together to finalize the preparations for    commercialization of treosulfan ahead of the PDUFA date and    expect to launch shortly after FDA approval.  
    Ken    dEntremont, Chief Executive Officer of Medexus, stated, We    are pleased to execute another transformative transaction with    medac. In 2018, when we acquired medacs U.S. affiliate, we    anticipated that treosulfan could be a significant advancement    in HSCT. This transaction marks another major milestone for    Medexus and is indicative of our continued effort to further    expand into the U.S. through what we believe will be a highly    accretive transaction for the Company. Given the drugs    therapeutic profile and the data generated to date, we believe    that treosulfan could exceed peak sales of busulfan of U.S.    $126 million from use in allo-HSCT alone. This belief is    re-enforced by the fact that that busulfan is currently being    used off-label for the indications for which treosulfan has    Orphan Drug Designation. Importantly, we believe there is a    large unmet need as the current standard of care is not    suitable for numerous at-risk groups, due to the high toxicity    effects. Treosulfan has demonstrated excellent event-free    survival and overall survival among such groups and as a    result, should be well positioned to become the new standard of    care in the U.S., with more than 100 publications supporting    the safety and efficacy of treosulfan. We are proud to be    working towards providing patients with a new solution that    could have a very meaningful impact on their lives.  
    Jrg Hans,    Chief Executive Officer of medac, emphasizes, This licensing    deal with Medexus offers us the unique opportunity of providing    patients and physicians with our very promising new treatment    option in the area of allogeneic hematopoietic stem cell    transplantation now also in the United States. The    treosulfan-based conditioning regimen stands out for its    combination of being highly effective - similar to the potency    of the myeloablative procedure - while simultaneously    exhibiting significantly reduced toxicity. We at medac are very    proud of our first-in-class conditioning agent as it addresses    a huge need in the area of conditioning treatments especially    with regard to high-risk patients. Therefore, this product    fully meets our company goals of improving patients quality of    life and supporting healthcare professionals in the best    possible way. As a shareholder in Medexus we see the expansion    of our relationship as a true win-win.  
    Medexus and    Medexus Pharma were represented by Munsch Hardt Kopf and Harr,    P.C. and medac was represented by Baker & McKenzie LLP with    respect to the License Agreement.  
    Conference Call Details  
    Medexus will    host a conference call on February 3, 2021 at 10:00 AM Eastern    Time (U.S. and Canada) to discuss the License Agreement and to    provide an operational update.  
    The    conference call will be available via telephone by dialing toll    free 888-506-0062 for Canadian and U.S. callers or 973-528-0011    for international callers, or on the Medexus Investor Events    section of the website: https://www.medexus.com/en_US/investors/news-events.  
    A webcast    replay will be available on Medexus Investor Events section of    the website (https://www.medexus.com/en_US/investors/news-events)    through May 3, 2021. A telephone replay of the call will be    available approximately one hour following the call, through    February 10, 2021 and can be accessed by dialing 877-481-4010    for Canadian and U.S. callers or 919-882-2331 for international    callers and entering conference ID: 39898  
    Key    Opinion Leader Webinar  
    Medexus will    be hosting a Key Opinion Leader webinar to discuss treosulfan    on February 5, 2021 at 2:00 PM Eastern Time (U.S. and Canada),    followed by a question-and-answer period. Ken dEntremont, CEO,    will be joined by H. Joachim Deeg, MD to discuss the clinical    data supporting treosulfan.  
    To join the    webinar, please register here: Treosulfan Key Opinion    Leader Webinar. After registering, you will receive a    confirmation email containing information about joining the    webinar. The webinar will also be live streamed on YouTube for    those who are unable to use Zoom: YouTube Live Stream.  
    Questions may    be asked during the webinar or can be emailed ahead of time to    info@adcap.ca. A replay will be made    available on the Medexus website.  
    H.    Joachim Deeg, MD    H. Joachim Deeg, MD, is a Physician at the Seattle Cancer Care    Alliance, a Professor of Medical Oncology at the University of    Washington School of Medicine, and a Professor of Clinical    Research at the Fred Hutchinson Cancer Research Center. He    currently holds the Miklos Kohary and Natalia Zimonyi Kohary    Endowed Chair for Cancer Research. He is an expert in bone    marrow transplantation, myelodysplastic syndromes, and    myeloproliferative neoplasms. Dr. Deeg is a board-certified    oncologist with more than 40 years of experience treating    blood-disorders. He has a medical degree from the University of    Bonn School of Medicine. Dr. Deeg completed his residency at    the University of Rochester, NY and did a fellowship in    Hematology/Oncology at the Fred Hutchinson Cancer Research    Center/ University of Washington, Seattle.  
    Mary    Horowitz, MDDr. Horowitz is the Robert A. Uihlein    Professor of Hematologic Research and Deputy Cancer Center at    the Medical College of Wisconsin in Milwaukee. She is also    Scientific Director Emeritus of the Center for International    Blood and Marrow Transplant Research (CIBMTR). The CIBMTR is a    research collaboration between the National Marrow Donor    Program(NMDP)/Be The    Matchand the Medical College of Wisconsin.    The CIBMTR collaborates with the global scientific community to    advance hematopoietic cell transplantation and cellular therapy    worldwide to increase survival and enrich quality of life for    patients. The CIBMTR facilitates critical observational and    interventional research through scientific and statistical    expertise, a large network of transplant centers, and a unique    and extensive clinical outcomes database. Dr. Horowitz also    leads the Coordinating Center of the U.S. Blood and Marrow    Clinical Trials Network, a multicenter group funded by the    National Institutes of Health to test new therapies to improve    the safety and effectiveness of transplantation. She has co-    authored more than 400 publications addressing diverse issues    in clinical BMT.  
    1Beelen, DW et    al., Final Results of a Prospective    Randomized Multicenter Phase III Trial Comparing Treosulfan /    Fludarabine to Reduced Intensity Conditioning with Busulfan /    Fludarabine Prior to Allogeneic Hematopoietic Stem Cell    Transplantation in Elderly or Comorbid Patients with Acute    Myeloid Leukemia or Myelodysplastic Syndrome. Blood. 2017;130    (Suppl 1):521  
    2Symphony Health PHAST    Data 2020  
    3Beelen,    DW et al. Final Evaluation of a Clinical    Phase III Trial Comparing Treosulfan to Busulfan-Based    Conditioning Therapy Prior to Allogeneic Hematopoietic    Stem Cell Transplantation of Adult Acute Myeloid    Leukemia and Myelodysplastic Syndrome Patients    Ineligible to Standard Myeloablative Regimens.    Biol Blood Marrow Transplant 25    (2019) S1-S6, p. 53, Abstract No.    04.  
    4D'Souza, A,    Fretham C, Lee SJ, et al. Current Use of and    Trends in Hematopoietic Cell Transplantation in the United    States. Biol Blood Marrow Transplant. 2020 May 11:    S1083-8791(20)30225-1  
    About    medac GmbH  
    medac GmbH is    a privately held, global pharmaceutical company with a growing    pharmaceutical and diagnostics business. Since its foundation    in Germany in 1970, medac has been specializing in the    treatment of diseases within the indication areas oncology,    hematology, urology and autoimmune disorders. medac is    committed to the refinement of existing and the development of    new therapeutic products  always with the focus on improving    patients quality of life. medac has become known for    developing innovative products also in less common indications.    This dedication has resulted in a comprehensive portfolio of    pharmaceutical products that help make a difference in the    lives of patients. medac continually invests in its product    development and manufacturing as well as logistic capacities to    meet both patients needs and the demands of healthcare    professionals.  
    About    Medexus Pharmaceuticals Inc.  
    Medexus is a    leading innovative and rare disease company with a strong North    American commercial platform. From a foundation of proven best    in class products we are building a highly differentiated    company with a portfolio of innovative and high value orphan    and rare disease products that will underpin our growth for the    next decade. The Companys vision is to provide the best    healthcare products to healthcare professionals and patients,    through our core values of Quality, Innovation, Customer    Service and Teamwork. Medexus Pharmaceuticals is focused on the    therapeutic areas of auto-immune disease, hematology, and    allergy. The Companys leading products are: Rasuvo and    Metoject, a unique formulation of methotrexate    (auto-pen and pre-filled syringe) designed to treat rheumatoid    arthritis and other auto-immune diseases; IXINITY,    an intravenous recombinant factor IX therapeutic for use in    patients 12 years of age or older with Hemophilia B  a    hereditary bleeding disorder characterized by a deficiency of    clotting factor IX in the blood, which is necessary to control    bleeding; and Rupall, an innovative prescription    allergy medication with a unique mode of action.  
    For    more information, please contact:  
    Ken    dEntremont, Chief Executive Officer    Medexus Pharmaceuticals Inc.    Tel.: 905-676-0003    E-mail:ken.dentremont@medexus.com  
    Roland    Boivin, Chief Financial Officer    Medexus Pharmaceuticals Inc.    Tel.: 514-334-8765    E-mail:roland.boivin@medexus.com  
    Investor Relations (U.S.):    Crescendo Communications, LLC    Tel: +1-212-671-1020    Email:mdp@crescendo-ir.com  
    Investor Relations (Canada):    Tina Byers    Investor Relations    Tel: 905-330-3275    E-mail:tina@adcap.ca  
    Neither the TSX Venture Exchange nor    its Regulation Services Provider (as that term is defined in    the policies of the TSX Venture Exchange) accepts    responsibility for the adequacy or accuracy of this    release.  
    READER ADVISORIES  
    Forward Looking    Statements  
    Certain    statements made in this press release contain forward-looking    information within the meaning of applicable securities laws    (forward-looking statements). The words    anticipates, believes, expects, should, will, and    similar expressions are often intended to identify    forward-looking statements, although not all forward-looking    statements contain these identifying words. Specific    forward-looking statements contained in this press release    include, but are not limited to, statements with respect to the    August 2021 PDUFA date, expectations for treosulfan to be the    first in a new conditioning treatment class, the Companys    intention to leverage its commercial infrastructure in the    United States to commercialize treosulfan, the expectation for    exclusivity for treosulfan upon FDA approval, the results of    the Phase III Study and the possibility of non-inferiority or    stronger claims in the final label for treosulfan, the expected    launch of treosulfan, the accretive nature of the transaction,    the potential for treosulfan to exceed peak sales of busulfan    and the anticipated growth in sales of, the market for and    distribution of, treosulfan. These statements are based on    factors or assumptions that were applied in drawing a    conclusion or making a forecast or projection, including    assumptions based on historical trends, current conditions and    expected future developments. Since forward-looking statements    relate to future events and conditions, by their very nature    they require making assumptions and involve inherent risks and    uncertainties. The Company cautions that although it is    believed that the assumptions are reasonable in the    circumstances, these risks and uncertainties give rise to the    possibility that actual results may differ materially from the    expectations set out in the forward-looking statements.    Material risk factors include those set out in the Companys    materials filed with the Canadian securities regulatory    authorities from time to time, including the Companys most    recent annual information form and managements discussion and    analysis; future capital requirements; intellectual property    protection and infringement risks; competition (including    potential for generic competition); reliance on key management    personnel; the Companys ability to implement its business    plan; the Companys ability to leverage its United States and    Canadian infrastructure to promote additional growth, including    with respect to the infrastructure of Medexus Pharma, and the    potential benefits the Company expects to derive therefrom;    regulatory approval by the FDA; litigation risk; and government    regulation. Given these risks, undue reliance should not be    placed on these forward-looking statements, which apply only as    of the date hereof. Other than as specifically required by law,    the Company undertakes no obligation to update any    forward-looking statements to reflect new information,    subsequent or otherwise.    
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Medexus Pharmaceuticals and medac GmbH enter into a License Agreement for First-in-Class Conditioning Agent for Hematopoietic Stem Cell...