BioChem, Inflazyme deal

IZP and BCHXF's BioChem Therapeutic Inc. subsidiary signed a letter of intent to develop IZP's Phosphonate (fitofosine), an anticancer drug in preclinical development. Phosphonate interferes with biochemical processes vital to the growth and survival of cells, IZP said. BioChem Therapeutic paid C$30,000 upon signing the letter of intent, will pay C$350,000 upon signing of a final agreement, and will fund all future development costs, IZP said. ...