Algeta announces that Xofigo® (radium-223 dichloride) has been approved by the US FDA

Not Intended for US Media

• New treatment for castration-resistant prostate cancer (CRPC) patients with bone metastases 

• Xofigo shown in a pivotal phase III trial to significantly improve overall survival 

Algeta to host international conference call scheduled for tomorrow at 08:00 CET - details below 

Oslo, Norway, 15 May 2013 - Algeta ASA (OSE: ALGETA) announces that the US Food and Drug Administration (FDA) has approved Xofigo^® (radium-223 dichloride) injection for the treatment of patients with castration-resistant prostate cancer, symptomatic bone metastases and no known visceral metastatic disease. Xofigo is the first alpha particle-emitting radioactive therapeutic agent approved by the FDA, that has demonstrated improvement in overall survival (OS) and delay in time to first symptomatic skeletal event (SSE) compared to placebo, as shown in the pivotal phase III ALSYMPCA trial.

The commercial production of Xofigo is underway, and first doses are expected to be ready for patient treatment within a few weeks. Bayer has worldwide exclusive marketing rights for Xofigo. Algeta US, LLC and Bayer Healthcare will co-promote the product in the US.

Andrew Kay, Algeta's President & CEO, said: "We are delighted that the FDA has taken the decision to approve Xofigo so quickly. We are extremely pleased to be able to make this alpha particle-emitting pharmaceutical available to US patients with castration-resistant prostate cancer and symptomatic bone metastases. We will now finalize our launch preparations for Xofigo in the US, with the intention of launching it, with Bayer, as soon as possible. This approval is a major milestone for Algeta and puts us firmly on the path to deliver on our vision to be a world-class oncology company bringing novel targeted medicines to cancer patients through our leadership in alpha particle-emitting pharmaceuticals."

"The development of bone metastases is a frequent consequence of advanced prostate cancer, and a major cause of disability and death in this disease," said Dr Chris Parker, Principal Investigator for the pivotal ALSYMPCA trial, from the Royal Marsden Hospital and Institute of Cancer Research (London, UK). "Xofigo will be an important and welcome addition to the treatment regimes that are used for the treatment of this cancer."

Bone is the most common site in the body to be affected by metastatic cancer and bone metastases are particularly prevalent in patients with prostate cancer. Approximately 90% of patients with metastatic prostate cancer show evidence of bone metastases. Bone metastases can lead to an increase in frequency of skeletal events. In addition, bone metastases have been shown to be the main cause of morbidity and death in patients with CRPC.