10 August 2023
Clinigen divests global rights to four cancer support therapies to CNX Therapeutics
Clinigen Limited (‘Clinigen’), the global pharmaceutical services company, has completed the divestment of four cancer supportive care products from its established brands portfolio to CNX Therapeutics, a speciality pharmaceutical company with a focus on improving access to medicines that are critical to the well-being of patients.
Under the terms of the agreement, (the financial terms for which are not being disclosed), Clinigen will divest four medicines; Cardioxane®, Savene®, Totect® and Ethyol®, all of which help mitigate the side effects patients may experience when treated with other cancer therapies.
Cardioxane®, used in adults with advanced or metastatic breast cancer to prevent long-term harmful effects on the heart caused by treatment with certain anthracyclines.
Savene®, used to treat anthracycline extravasation in adults, a rare condition that can impact cancer patients.
Totect®, used for the treatment of anthracycline extravasation as well as for preventing cardiomyopathy associated with doxorubicin in women with metastatic breast cancer.
Ethyol®, used to reduce the cumulative renal toxicity of cisplatin in patients with advanced ovarian cancer and for reduction of the toxic effects of radiation on normal oral tissues in patients with head and neck cancer.
The divestment is the next step for Clinigen in its strategy of increasing focus on those areas of the pharmaceutical services market where it has a growing and sustainable competitive advantage, increasing its exposure to high value, niche services and divesting units and products which no longer support that goal.
Earlier this year Clinigen agreed the sale of Proleukin® to Iovance Biotherapeutics, and later divested Lamda Laboratories SA, its European-based innovative contract development business, to Adragos Pharma GmbH. In late 2022, Clinigen acquired Drug Safety Navigator (‘DSN’), a specialist pharmacovigilance service provider based in the US, adding vital pharmacovigilance capabilities to its pharmaceutical services offering.
Jerome Charton, Chief Executive Officer at Clinigen commented, “This divestment marks another milestone in Clinigen’s continued strategic evolution towards providing high-value services to the pharmaceutical and biotech sectors. These medicines have been integral to Clinigen, but as we refocus our efforts, it is crucial to align our offerings with our core strategy and I’m delighted that CNX Therapeutics will be acquiring these brands.”
CNX Therapeutics’ CEO, Guy Clark said, “The addition of these products to the CNX portfolio strengthens our position as a provider of critically-important hospital injectable products, and demonstrates our commitment to improving the lives of patients by ensuring the supply of essential medicines. We recognise the great value of these products to prescribers and patients, and are very pleased to partner with Clinigen to transition this important portfolio of products and to ensure ongoing continuity of supply.”
Greenhill & Co are acting as financial advisor to Clinigen.
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| Contact details: Consilium Strategic Communications Jessica Hodgson / Susan Stuart / Melissa Gardiner | Tel: +44 (0) 20 3709 5700 Clinigen@consilium-comms.com |
Notes to Editors
About Clinigen
Clinigen is a global, specialist pharmaceutical services company focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time. The Group supports pharmaceutical and biotech companies across the medical product lifecycle, from clinical through to commercial and operates from sites in North America, Europe, Africa and the Asia Pacific. Clinigen has more than 1,200 employees across five continents in 15 countries, and provides access in more than 120 countries every year. For more information on Clinigen, please visit: www.clinigengroup.com
About CNX Therapeutics
CNX Therapeutics is a speciality pharmaceutical company committed to improving the lives of patients by providing access to essential medicines. They commercialise and distribute a portfolio of pharmaceuticals for neurological, psychiatric and hospital emergencies in 40 countries worldwide, both directly and through strategic partnerships. CNX Therapeutics’ vision is to become a recognised partner of choice through their commercial excellence, patient focus and presence across Europe. They aim to have a pioneering and industry-leading approach to their Environment, Social and Governance (ESG) goals, which forms a key element of the organisation’s mission and objectives. For more information on CNX Therapeutics, please visit: www.cnx-therapeutics.com
