On Tuesday, Irvine-based drug maker, Spectrum Pharmaceuticals Inc., has announced a deal with Nippon Kayaku Co. The deal with the Japanese company includes the production and commercialization of a cancer drug. The drug named apaziquone would be used for curing patients affected with bladder cancer that is limited up to a certain level and hasn’t affected the muscle layer of the bladder. It would be produced and used in the Asian market.

In a recent research, it has been discovered that 70% of the recently diagnosed bladder cancer patients are suffering from cancer that hasn’t yet invaded the muscle layer of their bladders.

The company said that the deal with Nippon Kayaku will fetch over $151 million to Spectrum. Nippon would be providing $15 million up front to Spectrum and around $136 million would be paid in milestone payments and royalties by Kayaku.

Spectrum had also signed a deal with Irvine-based Allergan Inc. for developing the cancer drug in the year 2008. They are also presently working together to make apaziquone. Spectrum had then announced that Allergan is expected to pay around $345.5 million to Spectrum. The deal authorizes Allergan Inc. with the full rights to share and manufacture apaziquone in countries like U.S., Canada, Europe and many more.

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