Published on April 30, 2010 at 1:17 AM
"This transaction represents strong validation of PRX302 given Kissei's established leadership in the Japanese urology market and proven track record in drug development," said Dr. Fahar Merchant, President and CEO of Protox. "We are delighted to execute this license agreement and we are convinced that in Kissei we have found a partner who is fully committed to bring PRX302 to the Japanese market in a timely manner. For Protox, this significant milestone provides a non-dilutive infusion of cash while preserving our flexibility for developing and marketing PRX302 in the rest of the world."
Kissei obtained Japanese regulatory approval of URIEF(R) (silodosin), an alpha-blocker for dysuria associated with BPH in 2006. Kissei rapidly established robust growth of URIEF(R), which is now the second largest selling alpha blocker in Japan. Kissei also has another urology drug in late stage clinical development.
"This agreement reinforces our product pipeline and enhances our presence in the urological field in Japan," said Mr. Mutsuo Kanzawa, President and CEO of Kissei. "We look forward to contributing to the well being of BPH patients by increasing their treatment choices and believe the in-licensing of PRX302 compliments the strong reputation of silodosin, our leading global strategic product in the BPH field."
Source: PROTOX THERAPEUTICS INC.