Trials contractor to take equity in Peplin
Wednesday, 19 January, 2005
French-based clinical trial contractor Cvitkovic and Associates Consultants (CAC) will take equity in Brisbane cancer-drug developer Peplin Biotech (ASX:PEP) and establish a 'dedicated operation' in Australia.
Peplin's CEO, Michael Aldridge, said CAC has been working with Peplin for the past year on the early-stage cancer and leukaemia trials of its lead anti-cancer compound, PEP005.
In return for its contract clinical development services, CAC will take part-payment in Peplin shares, with quantities based on Peplin's price when quarterly payments fall due.
"The principals of CAC have a keen interest in our skin cancer, bladder cancer and leukaemia programs, and we have structured a long-term collaboration which will see an integration of activities and alignment of interests for both organisations," Aldridge said.
He described CAC as having world-class capabilities and cancer-focused expertise in designing, implementing, monitoring and reporting clinical trials.
The French company also had a strong track record in developing cancer drugs, and a 'solid presence' in the major pharmaceutical markets.
CAC's first project under the new agreement will be the Phase II clinical trial of PEP005 as a topical treatment for actinic keratoses - pre-cancerous 'sunspots'.
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