Mundipharma pays US$250 for CAP7.1

According to CellAct’s managing director Nalan Utku, a serial entrepreneur, the virtual biotech did not invest more than US$10m for bringing the prodrug formulation of the chemotherapeutic etoposide through Phase II proof of concept, offering VC investors Peppermint VC and NRW Bank an excellent exit. CAP7.1 accumulates in tumours as the prodrug is split by esterases primarily produced in the target cells and is, thus, expected to cause fewer side effects than its established originator. According to Phase II results, 56% of patients treated showed a partial or full response to the topoisomerase II inhibitor. The company believes the response rate could translate into 12 month survival of approximately 40% of patients, which would be superior to current standard of care.

Mundipharma did not specify the exact amount of the double digit upfront payment it made for the Phase III development and commercialisation rights and the double-digit, milestones and royalties to be paid in case of market approval. Mundipharma subsidiary Mundipharma EDO GmbH (Basel) announced it will re-formulate CellAct’s (Dortmund) DNA synthesis blocker and apoptosis inductor before heading towards pivotal clinical testing.