BioCentury on BioBusiness,
DepoTech: A bridge too far
Monday, October 26, 1998
Even though DepoTech Corp.'s DepoCyt cancer compound is getting
a second chance at the FDA, the company said that knowing about an upcoming
advisory panel review would not have altered its plans to be acquired. DEPO
already was deeply engaged in buyout/partnering discussions when it received
news that the Oncologic Drugs Advisory Committee (ODAC) would review DepoCyt
on Nov. 16.
Thus, less than a month from a key milestone in the end game
for its sustained-release formulation of cytarabine to treat neoplastic meningitis
from lymphomas, DEPO chose to be acquired by SkyePharma plc (LSE:SKP; SKYEY)
in a stock deal initially worth $25.6 million.
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