Jan 30, 2010 (Close-Up Media via COMTEX) --
MedCI, a life-science business consulting services company, announced the formation of a new strategic alliance with Genta Inc. to secure licensing partners for Genta's small molecule oncology compound, tesetaxel.
In a release, the Company noted that tesetaxel is the leading oral taxane in clinical development and is a core component of Genta's investigational drug portfolio. Under the agreement, MedCI will continue and extend current discussions with leading pharmaceutical companies in South Korea that focus on oncology.
With this agreement, MedCI joins an existing three-party alliance that complements Genta's Business Development initiatives in East Asia (Japan, China and Korea) for oral tesetaxel, as well as a global licensing program for oral gallium. The goal of this alliance is to evaluate partners and terms for co-development and commercialization and to close a transaction.
"We are delighted that MedCI has been selected by Genta to lead the tesetaxel licensing discussions in South Korea," said Manish Singhal, M.D., MedCI's lead partner. "Our existing relationships within the Korean pharmaceutical industry and expert knowledge of best business practices, combined with the significant business potential of tesetaxel, positions MedCI and Genta for success in this endeavor."
"Gastric cancer is the most commonly diagnosed neoplastic disease in East Asia and the basis for our targeted partnership efforts in Japan, Korea and China. It is a lead indication in our global clinical development program for tesetaxel," noted Lloyd Sanders, Genta's Chief Operating Officer. "While we continue productive discussions with a number of potential partners in Korea, we look forward to the expertise of the MedCI team in optimizing, closing, and managing a productive development and commercial relationship on this core initiative."
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