Posted on Fri, Jul. 10, 2009
Endo Pharmaceuticals Holdings Inc. has licensed exclusive U.S. rights to develop and market a bladder cancer drug that is in Phase 3 clinical testing.
The Chadds Ford drug company entered the arrangement with Bioniche Life Sciences Inc., of Ontario, for Urocidin, which is being developed to treat non-muscle-invasive bladder cancer.
Under the agreement signed by both companies, Endo will pay Bioniche an up-front cash payment of $20 million, and as much as $110 million more if various milestones are met.
Bioniche will make the drug.
Non-muscle-invasive bladder cancer is a form of bladder cancer in the surface layers of the bladder that has not yet spread into the deeper muscle layer, the companies said in a joint release.
David Holveck, Endo's president and CEO, said this new arrangement would augment its new bladder cancer drug Valstar, which will be released in August.
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