Radius Health Divests RAD 140 Program to Ellipses Pharma

Rhea-AI Summary

Radius Health has sold its second oncology asset, RAD140, to Ellipses Pharma, allowing the molecule to progress without financial risk to Radius. This divestment reinforces Radius's focus on its core business in innovative endocrine therapeutics. RAD140, a selective androgen receptor modulator, demonstrated clinical activity in a Phase 1a study involving postmenopausal women with advanced breast cancer. Radius is set to receive royalties as the program advances under Ellipses Pharma's management.

Positive

• Successful divestment of RAD140 to Ellipses Pharma for further development.
• No financial risk to Radius in the ongoing development of RAD140.
• Radius will receive royalties from the RAD140 program as it advances.

Negative

• None.

• Business development step enables molecule to move forward
• Program progression will be at no financial risk to Radius
• Reinforces Radius’ focus on execution of core business
  

WALTHAM, Mass., Oct. 01, 2020 (GLOBE NEWSWIRE) -- Radius Health, Inc. (Nasdaq: RDUS) announced today that the company has successfully sold its second oncology pipeline asset – RAD 140 - to Ellipses Pharma Limited, completing Radius’s divestment of its oncology assets. Under the agreement, Ellipses Pharma will be responsible for the clinical development and commercialization of the asset. Radius will be entitled to receive royalties on the program as it advances with Ellipses.

RAD140 is a non-steroidal selective androgen receptor (AR) modulator (SARM). In a Phase 1a study of RAD140 in 22 heavily pre-treated postmenopausal women with ER+/HER2- locally advanced or metastatic breast cancer, the compound was well tolerated, showed evidence of clinical activity and target engagement of the AR.

Dr Rajan Jethwa, Chief Executive Officer of Ellipses Pharma, commented: “We are pleased to be able to progress this project and results to date have been encouraging. We look forward to taking this molecule into more advanced trials at the earliest opportunity.”

About Ellipses Pharma
Ellipses Pharma is an international drug development company, focused exclusively on the devlopment of innovative cancer medicines and treatments. Headquartered in London, Ellipses is run by a world class leadership team, leveraging the expertise of the world’s largest cancer-focused key opinion leader group to oversee a rapidly growing pipeline of high quality clinical oncology opportunities. Its worldwide reach and asset-focused approach transforms the clinical trials’ process to make the very best drugs and therapies available to patients with cancer at unprecedented speed. For more information, please visit https://ellipses.life/

About Radius
Radius is a science-driven fully integrated biopharmaceutical company that is committed to developing and commercializing innovative endocrine therapeutics. Radius’ lead product, TYMLOS (abaloparatide) injection, was approved by the U.S. Food and Drug Administration for the treatment of postmenopausal women with osteoporosis at high risk for fracture. The Radius clinical pipeline includes the investigational use of abaloparatide injection for the treatment of men with osteoporosis, an investigational abaloparatide-patch for potential use in osteoporosis and the investigational drug elacestrant (RAD1901) for potential use in hormone-receptor positive breast cancer out-licensed to Menarini Group. For more information, please visit www.radiuspharm.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements.

These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: risks related to RAD140’s clinical development and, if approved, commercialization, including the impact of the COVID-19 pandemic thereon. These and other important risks and uncertainties discussed in our filings with the Securities and Exchange Commission, or SEC, including under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ending December 31, 2019 and subsequent filings with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release.

Radius Investor Relations & Media Contact:
Elhan Webb, CFA
Email: ewebb@radiuspharm.com
Phone: 617-551-4011

Ellipses Pharma Investor Relations & Media Contact:
Ramsay Smith, Executive Director Media House International Ltd.
Email: ramsay@mediahouse.co.uk
Phone +44 7788 414856

FAQ

What did Radius Health announce on October 1, 2020?

On October 1, 2020, Radius Health announced the successful sale of its oncology asset, RAD140, to Ellipses Pharma.

What is RAD140 used for?

RAD140 is a non-steroidal selective androgen receptor modulator being researched for its potential in treating advanced breast cancer.

What are the financial implications of the RAD140 sale for Radius Health?

The sale of RAD140 to Ellipses Pharma entails no financial risk for Radius, and they will receive royalties as the drug advances.

Who is developing RAD140 now?

Ellipses Pharma is responsible for the clinical development and commercialization of RAD140 following its acquisition from Radius Health.

What was the outcome of the Phase 1a study for RAD140?

The Phase 1a study of RAD140 showed it was well tolerated and demonstrated clinical activity in postmenopausal women with advanced breast cancer.