Auxilium Pharmaceuticals, Inc. and Asahi Kasei Pharma Corporation Enter Agreement to Develop, Commercialize and Supply XIAFLEXÃ‚® In Japan
MALVERN, Pa., March 22, 2011 /PRNewswire/ -- Auxilium Pharmaceuticals, Inc. (Nasdaq: AUXL) and Asahi Kasei Pharma Corporation announced today that they have entered into a long-term strategic alliance for the development, commercialization and supply of XIAFLEX® (collagenase clostridium histolyticum), a novel, first-in-class biologic for the treatment of Dupuytren's contracture and Peyronie's disease. Under the terms of the agreement, Asahi Kasei Pharma will receive exclusive rights to commercialize XIAFLEX for the treatment of Dupuytren's contracture and Peyronie's disease in Japan. Asahi Kasei Pharma will be primarily responsible for the clinical development, regulatory and commercialization activities for XIAFLEX in Japan.
XIAFLEX has been approved by the U.S. Food and Drug Administration and the European Commission for the treatment of Dupuytren's contracture. Asahi Kasei Pharma expects to begin clinical trials for XIAFLEX for the treatment of Dupuytren's contracture in 2012. XIAFLEX is also being evaluated in a global phase III development program for Peyronie's disease with top line data expected in the first half of 2012.
"Today, Asahi Kasei Pharma and Auxilium have forged a partnership, which we believe has the opportunity to offer the first, effective nonsurgical treatment for two diseases in Japan," said Armando Anido, Chief Executive Officer and President of Auxilium. "With the strength of Asahi Kasei Pharma's development and commercialization organizations in Japan, we believe this relationship greatly enhances our ability to effectively introduce this potentially groundbreaking product."
Asahi Kasei Pharma will pay Auxilium $15 million upfront. Under the terms of the agreement, Asahi Kasei Pharma will also make up to $247 million in potential mi