Alize Pharma, a drug development company focused on oncology and metabolism and part of the Alize Pharma group, has signed a license agreement with EUSA Pharma for Asparec, a new L-asparaginase product currently in phase I clinical development for the treatment of acute lymphoblastic leukemia.

Pursuant to the agreement, EUSA will be responsible for the development and worldwide commercialization of Asparec, targeted at patients with Acute Lymphoblastic Leukemia who are hypersensitive to E. coli-derived L-asparaginase. In return, Alize has received an upfront payment and will be entitled to additional regulatory milestone payments and royalties on sales. The companies have not disclosed further financial information.

This agreement between Alize Pharma and EUSA Pharma,” said Alize Pharma’s president and founder, Thierry Abribat, “validates our medical approach, emphasizes our drug development capabilities and fits well with our business strategy, which is to establish partnerships with the pharmaceutical industry early in the development of our programs in order to secure both near-term and long-term revenue streams.