Xcellerex, Itero Enter Strategic Mfg. and Supply Pact

Xcellerex and Itero Biopharmaceuticals have entered into a strategic collaboration for the production of Itero’s lead product, an undisclosed therapeutic protein. Xcellerex will provide development and product manufacturing for global clinical and commercialization supplies. The two companies anticipate that this will be a multi-product collaboration. For the first product, Xcellerex will manufacture Itero’s Phase III clinical materials in 2010/2011.

“Xcellerex is enabling Itero’s rapid drug development through Phase III utilizing its state-of-the-art PDMax process development platform and its FlexFactory technology, which should provide Itero and its future partners with a cost-effective and flexible manufacturing alternative at full commercial scale,” stated Joseph Zakrzewski, Xcellerex’s president and chief executive officer.

“We believe Xcellerex is the right choice for Itero given their innovative, portable technology and their extensive manufacturing experience, which includes nearly 20 products for clinical trial development,” said Bryan Lawlis, Ph.D., Itero’s president and chief executive officer. “With the equity component of our collaboration, we are confident in their commitment to fully support our manufacturing needs as we make significant strides in building our product portfolio.”

Financial terms were not disclosed. Xcellerex, as part of the payment structure, will become an equity holder in Itero. The collaboration also anticipates Itero’s future purchase of a portable FlexFactory.