24 October, 2011
The Releef Initiative (http://www.releef.org <http://www.releef.org/>), a
Californian/Swedish pharmaceutical corporation committed to developing new
innovative therapeutic drugs for under-served areas, has acquired the
global rights from Anaborex Inc., Delaware, to further develop and
commercialize the specialty pharmaceutical Betamarc. According to the
agreement, The Releef Initiative receives global rights
to the ongoing Betamarc phase II program against cancer cachexia. The
trial compound Betamarc represents a completely new treatment paradigm for
cancer cachexia. The substance constitutes a combination of two small
molecules at an oral fixed dose. Clinical trial data from prior clinical
studies has demonstrated significant positive effects on lean body mass as
well as for patient¹s quality of life.
"By acquiring the global rights to Betamarc, we are not only significantly
strengthening the pipeline of The Releef Initiative, but more importantly
we are optimistic about the prospect of developing a first-in-class
treatment that will prolong life in cancer patients around the world and
concomittantly improve quality of life," said Dr. Mikhail Denissenko,
Board Director of The Releef Initiative. "Because of the ongoing global
demographic changes, we strongly believe that there is a large medical
need and a growing market for this drug, and we look forward to making
Betamarc available to the doctors and patients."
The transaction deal terms have not been revealed. Pharmaceutical industry
sources have estimated that the growing commercial market for treating
cachexia is approximately 500 million USD annually in the U.S. alone, and
that the worldwide market for treating cachexia is approximately 1 billion
USD.
About The Releef Initiative:
The Releef Initiative is a pharmaceutical corporation that is focused on
product development to fulfill unmet needs in under-served areas and
utilizes creative partnerships with life science development companies to
achieve its objectives. The Releef Initiative operates through a virtual
network with presence in the US, Sweden, Brazil and Russia, and is
directed by an executive team with extensive biopharmaceutical experience.
Further information email: info@releef.org
About Cancer Cachexia:
Cancer Cachexia is a devastating and life-threatening aspect of cancer. It
is a complex metabolic disease defined as a state of ill health,
malnutrition and, physical wasting with progressive loss of weight and
muscle, as a consequence of cancer. Scientific evidence suggest a strong
association between cachexia and decreased overall survival in cancer
patients. Cancer cachexia reduces patient response to anti-neoplastic
treatments, increases the risk of postoperative complications and it has
been implicated as the cause of death in over 20% of the patients. Up to
80% of advanced cancer patients may suffer from cachexia and currently
there is no specific therapeutic agent approved for the treatment of this
disease.