GPC Biotech Announces that Partner Pharmion Submits European Marketing Application for Satraplatin

 

GPC Biotech AG (Frankfurt Stock Exchange: GPC; TecDAX
index; Nasdaq: GPCB) today announced that its partner, Pharmion Corporation
(Nasdaq: PHRM), has submitted a Marketing Authorization Application (MAA)
to the European Medicines Agency (EMEA) for satraplatin in combination with
prednisone for the treatment of patients with metastatic hormone refractory
prostate cancer (HRPC) who have failed prior chemotherapy. This filing is
based primarily on data from the SPARC Phase 3 registrational trial.

    "We are delighted that Pharmion has submitted the European marketing
application for satraplatin," said Bernd R. Seizinger, M.D., Ph.D., Chief
Executive Officer. "With over 60,000 people expected to die from prostate
cancer in the European Union this year, there is an urgent need for new
therapies. We believe that, if approved, satraplatin has the potential to
become an important new treatment option for advanced prostate cancer
patients who today have very little hope."

    GPC Biotech will receive an $8 million milestone payment from Pharmion
in connection with EMEA's acceptance of this filing. Under the terms of GPC
Biotech's agreement with Spectrum Pharmaceuticals, the acceptance of the
MAA by the EMEA will also trigger payments by GPC Biotech to Spectrum in a
total amount of $3.2 million, representing a direct milestone payment plus
Spectrum's share of the $8 million milestone payment from Pharmion.