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Pharmion Corporation (PHRM) And Nippon Shinyaku Co., Ltd. Announce Licensing Agreement For Vidaza(R) In Japan


11/21/2006 10:06:45 AM

BOULDER, Colo., and KYOTO, Japan, Nov. 21 /PRNewswire-FirstCall/ -- Pharmion Corporation and Nippon Shinyaku Co., Ltd today announced the completion of an exclusive license agreement for development and commercialization rights to Vidaza (azacitidine for injectable suspension) in Japan. Terms of the agreement were not disclosed. The agreement requires Nippon Shinyaku to pay both royalties and milestone payments to Pharmion upon the achievement of certain regulatory and sales milestones, and also provides Nippon Shinyaku the responsibility for funding and conducting additional studies required for approval in Japan.

"Nippon Shinyaku's proven track record in the area of oncology makes them a good partner for Pharmion," said Patrick J. Mahaffy, Pharmion's president and CEO. "This licensing partnership validates the potential for Vidaza in Japan."

Vidaza is marketed by Pharmion Corp. in the U.S., and by distributor partners in the other four countries where Vidaza is approved for the treatment of Myelodysplastic Syndromes (MDS): Israel, the Philippines, South Korea and Switzerland. Vidaza is sold on a named patient and compassionate use basis in Europe and other international markets.

About Vidaza

On May 19, 2004, Vidaza (azacitidine for injectable suspension) became the first drug approved by the FDA for the treatment of patients with Myelodysplastic Syndromes (MDS). The FDA approved Vidaza, the first in a new class of drugs called demethylation agents, for treatment of all five MDS subtypes, which include both low-risk and high-risk patients. These subtypes include: refractory anemia (RA) or refractory anemia with ringed sideroblasts (RARS) if accompanied by neutropenia or thrombocytopenia or requiring transfusions; refractory anemia with excess blasts (RAEB), refractory anemia with excess blasts in transformation (RAEB-T), and chronic myelomonocytic leukemia (CMMoL).

Vidaza is believed to exert its antineoplastic effects by causing hypomethylation of DNA and direct cytotoxicity on abnormal hematopoietic cells in the bone marrow. The concentration of azacitidine required for maximum inhibition of DNA methylation in vitro does not cause major suppression of DNA synthesis. Hypomethylation may restore normal function to genes that are critical for differentiation and proliferation. The cytotoxic effects of azacitidine cause the death of rapidly dividing cells, including cancer cells that are no longer responsive to normal growth control mechanisms. Non-proliferating cells are relatively insensitive to Vidaza.

Important Safety Information

Vidaza is contraindicated in patients with a known hypersensitivity to azacitidine or mannitol and in patients with advanced malignant hepatic tumors.

In clinical studies, the most commonly occurring adverse reactions were nausea (70.5%), anemia (69.5%), thrombocytopenia (65.5%), vomiting (54.1%), pyrexia (51.8%), leukopenia (48.2%), diarrhea (36.4%), fatigue (35.9%), injection site erythema (35.0%), constipation (33.6%), neutropenia (32.3%) and ecchymosis (30.5%). Other adverse reactions included dizziness (18.6%), chest pain (16.4%), febrile neutropenia (16.4%), myalgia (15.9%), injection site reaction (13.6%), aggravated fatigue (12.7%) and malaise (10.9%).

Because treatment with Vidaza is associated with neutropenia and thrombocytopenia, complete blood counts should be performed as needed to monitor response and toxicity, but at a minimum, prior to each dosing cycle.

Because azacitidine is potentially hepatotoxic in patients with severe pre-existing hepatic impairment, caution is needed in patients with liver disease. In addition, azacitidine and its metabolites are substantially excreted by the kidneys and the risk of toxic reactions to this drug may be greater in patients with impaired renal function. Because elderly patients are more likely to have decreased renal function, it may be useful to monitor renal function.

Vidaza may cause fetal harm. While receiving treatment with Vidaza, women of childbearing potential should avoid becoming pregnant, and men should avoid fathering a child. In addition, women treated with Vidaza should not nurse.

About Nippon Shinyaku Co., Ltd.

Founded in the ancient capital Kyoto in 1919, Nippon Shinyaku is an R&D-oriented pharmaceutical company specializing in the development, manufacturing and sales of ethical pharmaceuticals, especially in the fields of urology, allergy and inflammation, and hematologic malignancies. Nippon Shinyaku currently markets Cylocide(R) and Cylocide(R) N for acute leukemia and malignant lymphoma, and Trisenox(R) and Amnolake(R) both for relapsed or refractory acute promyelocytic leukemia. For more information, access the www.nippon-shinyaku.co.jp.

About Pharmion:

Pharmion is a biotechnology company focused on acquiring, developing and commercializing innovative products for the treatment of hematology and oncology patients in the U.S., Europe and additional international markets. Pharmion has a number of products on the market including the world's first approved epigenetic cancer drug, Vidaza(R), a DNA demethylating agent. For additional information about Pharmion, please visit the company's website at www.pharmion.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause Pharmion's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include the outcome of ongoing clinical trials, the status and timing or regulatory approvals; the impact of competition from other products under development by Pharmion's competitors; the regulatory environment and changes in the health policies and structure of various countries; uncertainties regarding market acceptance of products newly launched, currently being sold or in development; fluctuations in currency exchange rates, and other factors that are discussed in Pharmion's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and Pharmion undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Pharmion Corporation

CONTACT: Anna Sussman, Director, Investor Relations and CorporateCommunications of Pharmion Corporation, +1-720-564-9150



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