On December 2, 2019 RhoVac AB ("RhoVac") reported that the collaboration agreement with Colpman Consulting Ltd ("Colpman Ltd") has been terminated by mutual agreement, in the light of RhoVac’s aim to secure an agreement with a partner after completion of the current clinical phase IIb study (Press release, RhoVac, DEC 2, 2019, View Source [SID1234555926]).

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The agreement that RhoVac signed with Colpman Ltd in March 2018 to find a development partner for RV001 has been formally terminated by mutual agreement. In the future, RhoVac’s CEO, Anders Månsson, will lead the company’s business development efforts, which aim to secure an agreement with a partner that can further develop the RV001 project in clinical phase III in prostate cancer, and also in other potential metastatic cancer indications, and subsequently launch the product.

CEO Anders Månsson comments:

"Since I started at RhoVac, I have been involved in the work and the dialogues that Colpman Ltd has initiated on RhoVac’s behalf. Colpman Ltd has done a good job, but as Rhovac chose to proceed with the value-adding clinical phase IIb study in-house, both the time perspective and the offer to our potential partners have changed. RV001 is now a project that, after completion of the current clinical phase IIb study in prostate cancer, can be taken directly into phase III, the last stage of development before market approval. With the great potential that RV001 can have for treating metastatic prostate cancer specifically – and metastatic cancer in general – I look forward to further intensifying our own business development efforts as we approach the end of the ongoing clinical phase IIb study."