Progenics announces agreement with ROTOP to commercialize 1404 in Europe
Progenics and ROTOP Pharmaka announced an exclusive agreement under which ROTOP agreed to develop and commercialize 1404 in Europe. 1404 is Progenics' prostate specific membrane antigen, or PSMA-targeted, small molecule SPECT/CT imaging agent labeled with technetium-99m that is designed to visualize prostate cancer. Under the terms of the agreement, ROTOP will receive an exclusive license to and will be responsible for the development, regulatory approvals and commercialization of 1404 in the covered European territory. In exchange, Progenics is eligible for double-digit, tiered royalties based on future sales of 1404 in Europe. In the coming months, ROTOP will hold an expert panel meeting with KOLs in the PSMA imaging field as well as regulatory experts to review existing data on 1404 and obtain guidance on the clinical development. Upon agreement on a path forward, ROTOP will request a meeting with European regulators and start a clinical trial in early 2020.