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Microbix, Zydus Cadila agree on Urokinase re-launch in N America.

M2 PHARMA-January 10, 2012-Microbix, Zydus Cadila agree on Urokinase re-launch in N America(C)2012 M2 COMMUNICATIONS

10 January 2012 - Canadian biotech company Microbix Biosystems Inc (TSX:MBX) said last Friday it had reached a preliminary accord with Indian pharma group Zydus Cadila to re-launch thrombolytic drug Urokinase in North America.

The companies are expected to sign a definitive agreement in early 2012.

The two firms have signed a letter of intent under which the Indian company will provide the funds including initial commitments and milestone payments for the re-launch of Urokinase in the US and Canada. Microbix is entitled to a milestone payment upon reaching a certain sales target and will get a royalty fee based on sales. Zydus will receive an option on the rights to all future indications including those in oncology and ophthalmology.

Microbix acquired the drug in 2008 and since then has taken active steps to re-introduce it in North America. In the last two years the Canadian company has held talks with various potential partners for Urokinase.

The US market for Urokinase is expected to reach USD400m (EUR312m) by 2020 with the drug use being split between three indications - pulmonary embolism, catheter clearance and catheter prophylaxis. The same active pharmaceutical ingredient can be used in new and larger oncology and ophthalmology indications.

Urokinase was first approved in the US in 1978 for pulmonary embolism and coronary occlusion. The product, which has excellent safety and efficacy profile, was used substantially off label for dissolving large peripheral thrombi in arms and legs. It was the main therapy for catheter clearance until 1998. Urokinase was pulled from the market from 1999 to 2002 for reasons other than product performance.

(USD1 = EUR0.782)

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Publication:M2 Pharma
Geographic Code:100NA
Date:Jan 10, 2012
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