Camurus Receives Option-exercise Milestone for Octreotide FluidCrystal® Product CAM2029

Lund, Sweden (ots/PRNewswire) -

Camurus announced today that Novartis has exercised its option to
acquire an exclusive license for the further development and
worldwide commercialization of CAM2029 for treatment of patients with
acromegaly and neuroendocrine tumors (NETs). The license also covers
additional future products based on the Camurus' FluidCrystal(R)
Injection depot technology.

(Logo: http://photos.prnewswire.com/prnh/20130910/638211 )

The option exercise is the next stage in the collaboration, option
and license agreement between Novartis and Camurus executed in
December 2011. It triggers an undisclosed milestone payment to
Camurus from eligible potential payments of up to US$ 700 million,
subject to achievement of predefined development, regulatory and
commercial milestones for the products included in the agreement. In
addition, Camurus is entitled to royalties on global product sales.

CAM2029 is a novel, long-acting octreotide product that has been
developed by Camurus with the goal of easy subcutaneous
administration in the treatment of patients with acromegaly and NETs.
CAM2029 has received orphan drug designation by EMA for the treatment
of acromegaly and has been studied in three clinical Phase I trials,
assessing pharmacokinetics, pharmacodynamics and safety after single
and repeat dosing. Following the option exercise, Novartis will
assume responsibility for further clinical development of CAM2029,
including any Phase III studies, product registration and worldwide
commercialization.

"We are very proud of the successful development of our
collaboration and look forward to continue assisting Novartis in the
clinical development and registration efforts for CAM2029," says
Fredrik Tiberg, President and CEO of Camurus. "Novartis' decision to
acquire full commercialization rights to CAM2029 and related products
is a key milestone for Camurus that further validates our advanced
delivery technologies and clinical product development capacity.
Novartis' continued investment in this program strengthens our
strategic relationship and enables Camurus to expand its proprietary
pipeline of new and innovative therapies for serious diseases."

Since the transaction triggers relevant value thresholds,
Novartis' binding commitment to complete the exercise of the option
is subject to the US's Hart-Scott-Rodino Antitrust Improvements Act
of 1976 (15 U.S.C. Section18a) (HSR).

About CAM2029 CAM2029 is a novel, ready-to-use, long-acting
octreotide product for treatment of acromegaly and neuroendocrine
tumors (NETs) based on Camurus' proprietary FluidCrystal(R) delivery
system. Octreotide chloride, the active ingredient of CAM2029 is a
synthetic, cyclic octapeptide, an eight amino acid analogue of the
peptide hormone somatostatin. The CAM2029 product is designed for
easy and patient-friendly drug administration. While traditional
depot therapeutics frequently comprise complex microsphere technology
for intramuscular injection, Camurus' FluidCrystal(R) depot allows
for subcutaneous injection of a small volume liquid that transforms
into a biodegradable liquid crystal gel at the site of injection.
Thereby the drug compound is effectively encapsulated, providing
rapid onset and long-acting octreotide release.

About Camurus Camurus is a research-based pharmaceutical company
dedicated to developing innovative therapeutics for diseases with
high unmet medical needs. The company's current pipeline includes
products for treatment of pain, opiate addiction, cancer and for use
in endocrinology. Based on its advanced nanoscale drug-delivery
technology platform, FluidCrystal(R), Camurus is also active in a
number of development partnerships and research collaborations with
international pharmaceutical and biotech companies.

For further information, please contact:
Fredrik Tiberg, President & CEO
Tel: +46(0)46-286-4692
fredrik.tiberg@camurus.com
http://www.camurus.com

Photo:
http://photos.prnewswire.com/prnh/20130910/638211

ots Originaltext: Camurus
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