Licensing deal between PhotoCure and GE Healthcare for bladder cancer

10-Jan-2006

GE Healthcare and PhotoCure ASA announced a licensing agreement that grants GE Healthcare exclusive global rights outside of the US and the Nordic region to market and distribute PhotoCure's product Hexvix® (hexaminolevulinate), an optical molecular imaging agent intended for the diagnosis and monitoring of bladder cancer. The agreement includes total milestones of MEUR 28, of which MEUR 7 at signing, as well as royalties. PhotoCure will be responsible for manufacturing and Nordic distribution of the product. The agreement includes an exclusive option for GE Healthcare to market and distribute the product in the US.

Hexvix has received approval for the diagnosis of bladder cancer in a large number of European countries through the European mutual recognition procedure with more expected in the near future. This product is not currently approved by the U.S. Food and Drug Administration (FDA). However a New Drug Application (NDA) was submitted in June 2005 in the United States and if approved by the FDA it would be the first optical molecular imaging agent of its kind available to the US market. GE's agreement includes access to other indications for the product currently under evaluation and testing by PhotoCure.

Optical imaging is an imaging modality with the potential to provide new applications in the prevention and treatment of bladder cancer as well as other diseases. Optical imaging uses light to illuminate superficial tissue - such as bladder tissue. By combining this technology with an optical molecular imaging agent, tumors might be targeted more accurately. Optical imaging may enhance the diagnostic abilities of urologists and allow for improved patient care.

https://www.bionity.com/en/news/51318/licensing-deal-between-photocure-and-ge-healthcare-for-bladder-cancer.html