Swedish cancer drug developer Oasmia Pharmaceutical is assessing strategic options for its animal health business.
The firm said it will consider partnering, licensing and divestment of its animal health pipeline, which features two under-development companion animal oncology drugs.
The wider Oasmia business is conducting a strategic review to deliver long-term, profitable growth as a specialty pharmaceuticals company. The business is currently expanding sales of its ovarian cancer treatment Apealea across Europe.
The firm previously created US-based subsidiary AdvaVet to focus on the development of Doxophos Vet and Paccal Vet. These candidates are based on Oasmia’s XR-17 nanotechnology-based formulation system and are both in clinical trials.
The XR-17 technology enables the encapsulation of individual active pharmaceutical ingredients (APIs), as well as combinations of multiple APIs with improved solubility profiles. The enhanced solubility allows the safe administration of APIs to animals. The technology also shortens infusion time, reduces severe hypersensitivity and improves dosing profiles of combination therapies.
Paccal Vet is a XR-17-based formulation of paclitaxel and is intended for canine mammary carcinomas. Doxophos Vet is a patented formulation of doxorubicin in combination with an XR-17-derived solubility platform. The firm secured positive data from phase II study of treating lymphoma in dogs with Doxophos Vet in 2018.
Oasmia delayed plans to publicly list AdvaVet due to a criminal investigation related to an unaccounted tax audit, which has now been resolved. The company had previously expected its animal health business to commence commercial operations in the US during the second half of 2018.