Early in November, Microbix announced that KINLYTIC (urokinase for injection) was approved in Canada for marketing and export. Health Canada's issuance of a Drug Identification Number for KINLYTIC gives Microbix the opportunity to market the product in Canada and export the clot-busting therapy to markets worldwide. Later that month, Microbix announced a marketing and supply agreement with Riso Pharma that guarantees purchases of not less than 50,000 KINLYTIC vials over the next three years. Urokinase sales are projected to begin in Canada and other countries in the second half of 2010.
Under the terms of the agreement with Riso, Microbix granted exclusive rights to market KINLYTIC throughout the Middle East. Riso will be responsible for all commercialization activities and purchase inventory for distribution.
The Company's $2.5 million acquisition in 2008 of all Urokinase assets from ImaRx Therapeutics, Inc. of Tucson, Arizona, ( IMRX) resulted in a major transformation for Microbix. With this acquisition, Microbix will become a fully integrated biopharmaceutical company with an established revenue base. Discussions are under way with several potential partners, all in the hospital-based injection market, to help Urokinase reach its full commercial potential.
All partnership agreements will include an up-front payment for marketing and/or development rights plus ongoing milestone and royalty payments.
Urokinase, which Microbix has re-branded as KINLYTIC, has been administered to over four million patients and generated peak annual worldwide sales of more than $300 million, prior to Abbott Laboratories discontinuing sales in 1999 due to manufacturing issues. In 2008, Microbix completed the acquisition of all urokinase assets from ImaRx Therapeutics, Inc., making Microbix the only worldwide source of low-molecular-weight urokinase.
According to IMS data, the total Canadian clot-busting market ex
|SOURCE Microbix Biosystems Inc.|
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