Protox signs exclusive Lung Cancer licence agreement and initiates Lung Cancer study

11-Aug-2005

Protox Therapeutics Inc. announced that it has signed an exclusive licence agreement with the National Research Council Institute for Biological Sciences (NRC-IBS) and the University of Victoria (UVic) Innovation and Development Corporation (IDC). The licence grants Protox exclusive worldwide rights to commercialize antibody targeted PORxin(TM) (formerly known as Aerolysin) for the treatment of non-small cell lung cancer (NSCLC). The financial terms of the agreement include an upfront fee as well as milestone and royalty payments. Protox had earlier reported the exercise of an option agreement on April 5, 2005.

The Company also announced that it has initiated a preliminary non-small cell lung cancer study with PORxin(TM) antibody fusion constructs at the BC Cancer Agency. As reported earlier, this lung cancer project has received a financial contribution of up to $340,000 from the National Research Council (NRC) Industrial Research Assistance Program (IRAP).

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