Ergomed Plc (LON:ERGO) has acknowledged an announcement by Aeterna Zentaris, its co-development partner for Zoptrex, which revealed that a Phase 3 trail was unsuccessful.
The trial was for Zoptrex in women with advanced, recurrent or metastatic endometrial cancer.
It did not meet the primary endpoint which was to demonstrate a statistically significant increase in the median period of overall survival of patients treated with Zoptrex™ as compared to patients treated with doxorubicin. The secondary endpoint was also not met.
As co-development partner, Ergomed contributed to the costs of the trial in return for a share in the revenues generated from the product's commmercialisation.
Ergomed also noted that it has already received a portion of upfront payments from several license agreements entered into by Aeterna Zentaris.
"While it is obviously disappointing that this Zoptrex trial was not successful - especially for our partner Aeterna Zentaris- it does highlight the resilience of our hybrid business mode,” said Dr Miroslav Reljanovic, Ergomed chief executive.
“Success for Ergomed does not hinge on just one asset, but rather the overall potential of a diversified development pipeline, underpinned by reliable earnings from a strong Services business that continues to significantly outperform the market, enjoying excellent growth.
“Indeed, in contrast to this trial outcome with Zoptrex, we recently reported excellent news from our insomnia programme."