GPC eyes capital hike, new trials

By Rajiv Sekhri and Steven Silber

LONDON (Reuters) - Germany's GPC Biotech might issue new shares to help build a marketing force in the United States if its late-stage drug satraplatin for prostate cancer wins regulatory approval.

Satraplatin would be GPC's first drug on the market and is among the few late-stage products at German biotech firms, which trail their rivals in the United States, UK and Switzerland.

"In all likelihood, what you do after positive Phase III data is you have a capital increase," Chief Executive Bernd Seizinger said on Tuesday at the Reuters Biotechnology Summit.

He declined to discuss details but said the company was also considering additional alliances and securing partners for satraplatin in the United States, Japan and Asia.

The Munich-based company would also consider acquisitions if the cancer drug proves successful.

"On the other hand, we would prefer licensing opportunities because it makes it easier not to have to integrate an infrastructure, but only a compound," Seizinger said.

He said GPC planned five to six additional clinical trials in cancer this year.

The company hopes to get satraplatin, its main drug in development, on the market for prostate cancer in 2007.  Continued...