BETHESDA, Md., March 9, 2015 (GLOBE NEWSWIRE) -- Sucampo Pharmaceuticals, Inc. (Sucampo) (Nasdaq:SCMP), a global biopharmaceutical company, today announced it will immediately return all licenses for unoprostone isopropyl to R-Tech Ueno, Ltd. (RTU). These licenses had provided Sucampo with exclusive development and commercialization rights to unoprostone isopropyl globally except for Japan, People's Republic of China, Taiwan and Korea and covered certain indications, including the lowering of intraocular pressure in patients with open-angle glaucoma or ocular hypertension, retinitis pigmentosa and geographic atrophy.
"We are focused on the continued evaluation and prioritization of our pipeline," said Peter Greenleaf, Chief Executive Officer of Sucampo. "Following our exit from commercialization activities for RESCULA® (unoprostone isopropyl) last year and an analysis of preliminary top-line data from RTU's Phase 3 trial of unoprostone isopropyl in retinitis pigmentosa, we have concluded not to continue development of the compound. We believe that the most effective way to increase shareholder value is by prioritizing those development programs for which we see the most significant potential. These include lifecycle management for AMITIZA, which is our highest priority program and includes a series of Phase 3 trials in pediatric functional constipation and a new formulation of the product in adults and pediatrics, as well as cobiprostone, which is being evaluated for non-erosive reflux disease and oral mucositis. We are also committed to the diversification of our pipeline beyond prostones and are actively assessing new therapeutic areas and targets both early and mid- to late-stage."
About Sucampo Pharmaceuticals, Inc.
Sucampo Pharmaceuticals, Inc. is focused on the development and commercialization of medicines that meet major unmet medical needs of patients worldwide. Sucampo has one marketed product – AMITIZA® – and a pipeline of drug candidates in clinical development. A global company, Sucampo is headquartered in Bethesda, Maryland, and has operations in Japan, Switzerland and the United Kingdom. For more information, please visit www.sucampo.com.
The Sucampo logo is the registered trademark and the tagline, The Science of Innovation, is a registered trademark of Sucampo AG. AMITIZA is a registered trademark of Sucampo AG.
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Sucampo Forward-Looking Statement
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, future financial and operating results, and other statements that are not historical facts. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the impact of pharmaceutical industry regulation and health care legislation; the ability of Sucampo to develop and commercialize existing and pipeline products; Sucampo's ability to accurately predict future market conditions; dependence on the effectiveness of Sucampo's patents and other protections for innovative products; the risk of new and changing regulation and health policies in the U.S. and internationally; the effects of competitive products on Sucampo's products; and the exposure to litigation and/or regulatory actions.
No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Sucampo undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this presentation should be evaluated together with the many uncertainties that affect Sucampo's business, particularly those mentioned in the risk factors and cautionary statements in Sucampo's most recent Form 10-K as filed with the Securities and Exchange Commission on March 12, 2014 as well as its filings with the Securities and Exchange Commission on Form 10-Q and 8-K, which Sucampo incorporates by reference.