Bioniche, Endo Pharmaceuticals Sign Licensing Agreement For Urocidin

Published: 10-Jul-2009

Bioniche would manufacture the product and receive a transfer price for supply

Endo has licensed from Bioniche the exclusive rights to develop and market Urocidin in the US, with an option for global rights. Urocidin is a patented formulation of Mycobacterial Cell Wall-DNA Complex (MCC) developed by Bioniche. It is for the treatment of non-muscle-invasive bladder cancer that is currently undergoing phase-III clinical testing.

Under the agreement, Endo would pay Bioniche an up-front cash payment of $20 million and the potential for up to $110 million in additional payments, linked to the achievement of future clinical, regulatory, and commercial milestones. In addition, Bioniche will manufacture the product and receive a transfer price for supply.

David Holveck, President and CEO of Endo Pharmaceuticals, said: We are excited about the opportunity to expand our portfolio in bladder cancer treatment and enhance our late stage development pipeline. In August Endo plans to launch Valstar, for the treatment of bladder cancer. If successful in clinical development, Urocidin has the potential to extend and enhance our recent therapeutic expansion and strengthen the Valstar franchise.

Graeme McRae, Chairman, President and CEO of Bioniche, added: Endo Pharmaceuticals represents the optimal development and commercialization partner for Bioniche, given its understanding of the bladder cancer market and breadth of pharmaceutical industry experience. We look forward to advancing the Urocidin development and commercialization program in collaboration with the Endo team. Equally, we are very excited about the potential returns to Bioniche and its shareholders following commercialization of Urocidin.

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