Bioniche, Paladin deal

Bioniche granted Paladin exclusive rights to commercialize Urocidin to treat bladder cancer in Canada, South Africa and Mexico. The companies have agreed to share net revenues, and Bioniche is eligible for sales milestones of up to C$16 million ($15.4 million). Bioniche is responsible for product development and manufacturing costs, and Paladin will be responsible for sales and marketing costs. Late last year, the Endo Pharmaceuticals subsidiary of Endo Health Solutions Inc. (NASDAQ:ENDP, Chadds Ford, Pa.) returned to Bioniche exclusive, worldwide rights to Urocidin. Last November, Endo discontinued the Phase III EMBAR-RF trial of Urocidin to treat bladder cancer, citing a lower-than-expected recruitment rate and discussions with FDA regarding the trial's design. Urocidin is a mycobacterial cell wall-DNA complex (MCC) (see BioCentury, Jan 7). ...