Wednesday, November 15, 2017
Purdue Pharma L.P. today announced completion of significant oncology related investments as part of its ongoing efforts to diversify its scientific research into areas of high unmet medical need. Through these investments, executed over a multi-year period and capped recently in 2017, Purdue is establishing a portfolio of drug candidates with the potential to deliver new cancer therapies to patients within the next five years.
“With this formal entry into oncology research and development, Purdue is evolving as a company and renewing its foundational commitment to bring important new medicines to patients and physicians who need them,” said Craig Landau, president and CEO, Purdue Pharma. “We are excited by the opportunity and the potential to make meaningful contributions to the field of cancer medicine.”
In assembling this portfolio, Purdue now has four drug candidates in development for multiple cancer types:
Research on these drug candidates is being directed on behalf of Purdue by Mundipharma EDO GmbH, part of the Mundipharma network of independent associated companies.
“We are pleased to collaborate with Purdue Pharma on the development of these important compounds,” said Dr. Thomas Mehrling, chief executive officer, EDO. “Purdue’s strong experience developing novel treatments will translate well to oncology and we are confident that this will be a successful partnership.”
Purdue will also continue to selectively seek additional oncology product assets through licensing and acquisition, and the company will maintain a priority interest in candidates with mechanisms complementary to emerging immuno-oncology based treatment paradigms.