Orion and Bayer enter global agreement for development and commercialization of novel prostate cancer treatment - Orion upgrades full-year outlook for 2014

June 2, 2014 6:09 AM

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Orion Corporation (Nasdaq OMX Helsinki: ORNAV and ORNBV) has entered into a global partnership with Bayer for the development and commercialization of the compound ODM-201, an investigational novel oral androgen receptor inhibitor. ODM-201 is in clinical development for the treatment of patients with prostate cancer. Bayer and Orion will start jointly a clinical Phase III program to further evaluate the efficacy and safety of ODM-201 in patients with non-metastatic castration-resistant prostate cancer (nm-CRPC) in 2014. As a result of the agreement Orion Corporation upgrades the full-year outlook estimate for 2014.

Under the terms of the agreement, Orion and Bayer will jointly develop ODM-201, with Bayer contributing a major share of the costs of future development. Bayer will commercialize ODM-201 globally, Orion has the option to co-promote ODM-201 in Europe and Orion is eligible to receive substantial royal...

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