Endo licenses cancer drug for $20M up front
Endo pharmaceuticals has snagged U.S. development and marketing rights for bladder cancer drug Urocidin. The company is paying Canada's Bioniche Life Sciences up-front cash payment of $20 million and up to $110M in additional milestone payments. Urocidin is a formulation of Mycobacterial Cell Wall-DNA Complex for non-muscle-invasive bladder cancer that is currently undergoing Phase III clinical testing. Bioniche will manufacture the product and receive a transfer price for supply.
"We are excited about the opportunity to expand our portfolio in bladder cancer treatment and enhance our late stage development pipeline," said David Holveck, president and chief executive officer of Endo Pharmaceuticals. "In August Endo plans to launch Valstar(TM), 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."
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