Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, today announced that its subsidiary, Athenex Pharmaceutical Division (APD), has launched Liquid, Ready-To-Dilute Cyclophosphamide
BUFFALO, N.Y., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Athenex Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, today announced that its subsidiary, Athenex Pharmaceutical Division (APD), has launched Liquid, Ready-To-Dilute Cyclophosphamide. The product is being brought to market through APD’s co-marketing partnership with Ingenus Pharmaceuticals, LLC. APD will leverage existing commercial relationships with hospitals, integrated health systems, which include U.S. cancer centers, major distributors, and GPOs, to optimize distribution and commercial uptake of Liquid, Ready-To-Dilute Cyclophosphamide. In 2019, Athenex’s specialty pharmaceuticals business sold into nearly 2,800 oncology hospitals, critical care sites, and clinics.
Jeffrey Yordon, Athenex’s Chief Operating Officer and President of APD, stated, “We are proud to add Liquid Cyclophosphamide to our growing portfolio of specialty products through our partnership with Ingenus Pharmaceuticals. We look forward to identifying additional opportunities to launch products to fill marketplace needs.”
Raju Mantena, Chairman and CEO of Ingenus, stated, “Liquid Cyclophosphamide is the flagship product of our oncology portfolio. We are excited to work with Athenex to present the product to the acute care market. We look forward to collaborating further to bring additional specialty pharmaceutical drugs to the market.”
Liquid Cyclophosphamide does not require reconstitution and involves fewer steps to prepare a hazardous chemotherapeutic agent, which may help reduce the risk of exposure and medication errors. Multi-dose vial presentations may assist with waste reduction.
About Athenex, Inc.
Founded in 2003, Athenex, Inc. is a global clinical stage biopharmaceutical company dedicated to becoming a leader in the discovery, development, and commercialization of next generation drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform, and a Global Supply Chain Platform. The Company’s current clinical pipeline is derived from four different platform technologies: (1) Orascovery, based on P-glycoprotein inhibitor, (2) Src kinase inhibition, (3) T-cell receptor-engineered T-cells (TCR-T), and (4) Arginine deprivation therapy. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. Athenex has offices in Buffalo and Clarence, New York; Cranford, New Jersey; Houston, Texas; Chicago, Illinois; Hong Kong; Taipei, Taiwan; multiple locations in Chongqing, China; Manchester, UK; Guatemala City, Guatemala and Buenos Aires, Argentina. For more information, please visit www.athenex.com.
About Ingenus Pharmaceuticals, LLC
Ingenus Pharmaceuticals, LLC, is a privately-owned U.S. based pharmaceutical company. Our vision is to be recognized as the most innovative, collaborative and responsive company in the generic pharmaceutical industry. Ingenus believes lower-cost generic medication improves patient access and offsets overall healthcare costs. Since 2010, Ingenus has helped to make a difference by developing, manufacturing and commercializing quality generic medications as cost effective solutions for patients, suppliers and stakeholders all across the healthcare continuum. With our focus on transdermal, parenteral, semi-solids, injectable, and extended release products, the ingenuity of our developers and scientists, and our integrated FDA inspected manufacturing and development facilities – headquartered in the U.S.A., Ingenus products foster enhanced access, safety, quality, and transparency standards that continue to make a difference – one medication at a time.
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. These forward-looking statements are typically identified by terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the development stage of our primary clinical candidates and related risks involved in drug development, clinical trials, regulation, manufacturing and commercialization; our reliance on third parties for success in certain areas of Athenex’s business; our history of operating losses and need to raise additional capital to continue as a going concern; uncertainties around our ability to meet funding conditions under our financing agreements and access to capital thereunder; risks and uncertainties related to the COVID-19 pandemic and its potential impact on our operations, cash flow and financial condition; competition; intellectual property risks; risks relating to doing business internationally and in China; the risk of production slowdowns or stoppages or other interruptions at our Chongqing facilities; and the other risk factors set forth from time to time in our SEC filings, copies of which are available for free in the Investor Relations section of our website at http://ir.athenex.com/phoenix.zhtml?c=254495&p=irol-sec or upon request from our Investor Relations Department. All information provided in this release is as of the date hereof and we assume no obligation and do not intend to update these forward-looking statements, except as required by law.
CONTACTS
Investors
Steve Rubis
Athenex, Inc.
Email: stevenrubis@athenex.com
Daniel Lang, MD
Athenex, Inc.
Email: danlang@athenex.com
Tim McCarthy
LifeSci Advisors, LLC
Email: tim@lifesciadvisors.com
