Innovative cancer drug and growth strategy
London-based pharmaceutical company EUSA Pharma markets new drugs to combat serious diseases. Austrian biotech company Apeiron developed dinutuximab beta for the treatment of neuroblastoma, the second most common solid tumor in children. goetzpartners brokered a deal between the two companies that will help save lives: EUSA Pharma purchased the global marketing rights to dinutuximab beta – and quickly managed to obtain European approval.
Network and initiative
The sale of the marketing rights owes much to goetzpartners’ networking in the pharmaceutical industry and to the initiative demonstrated by the company. goetzpartners was informed by the equity firm Essex Woodlands, which had invested in EUSA Pharma, and by the latter company itself that it was on the look-out for innovative drugs as part of its growth strategy. EUSA Pharma was willing to acquire the rights to drugs for which approval had yet to be granted. Seizing the initiative, the pharmaceutical team at goetzpartners went in search of a suitable drug.
Rapid approval in Europe
Thanks to its network of medics and pharmaceutical experts, the team was able to identify Apeiron’s immunotherapy for the treatment of brain tumors as a suitable target for purchase. Apeiron itself lacked the resources for marketing. The team of consultants arranged a meeting and EUSA Pharma lost no time in taking action: European approval was applied for shortly after the completion of due diligence and conclusion of the purchase contract, and granted soon afterwards. The drug’s approval is also in the pipeline in the USA (as of September 2017).
- Pharmaceutical industry
CHALLENGES FOR CLIENT
- Finding an innovative drug to market globally
- Convincing seller and purchaser of the case, as neither had issued instructions
- Identifying targets for purchase on its own initiative
- Exploiting outstanding network in the pharmaceutical industry
- Rapid agreement between the partners on the sale of global marketing rights
- EUSA Pharma obtained European approval within just a few months and can expect to generate good returns
- Dinutuximab beta is now approved for children suffering from high-risk neuroblastoma, giving hope to patients and their families alike