BioCentury
ARTICLE | Company News

Progen, Global TransBiotech Inc., KAI Pharmaceuticals Inc deal

July 6, 2009 7:00 AM UTC

Progen disclosed that Global TransBiotech is the company to which it licensed exclusive, worldwide rights to develop and commercialize muparfostat (formerly PI-88). Progen announced the deal in May. Global TransBiotech will focus on development of muparfostat for hepatocellular carcinoma (HCC) in Taiwan, China, Hong Kong and Singapore. The sulfated mannopentaose phosphate anti-angiogenic agent that inhibits VEGF, fibroblast growth factor (FGF) and heparanase has completed Phase II trials for HCC. Progen is eligible for $5 million in milestones plus royalties and retains rights in Australia (see BioCentury, May 25).

Separately, Kai acquired from Progen a portfolio of patents covering transporter molecules to deliver compounds across biological membranes into cells. KAI plans to use the technology with its compounds targeting individual protein kinase C (PKC) isozymes. Its KAI-1678 is an isozyme-selective, small peptide inhibitor of the PKC epsilon pathway in Phase II testing for pain. Progen acquired the transporter technology in its 2008 acquisition of CellGate Inc. Progen is eligible for royalties. Further terms were not disclosed (see BioCentury, Feb. 11, 2008). ...