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ImaRx and Microbix sign Letter of Intent to manufacture and further develop the FDA-approved clot-dissolving drug, Abbokinase(R)
TUCSON, AZ, and TORONTO, Jan. 22 /CNW/ - ImaRx Therapeutics, Inc. (Nasdaq: IMRX) and Microbix Bio...
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\nTUCSON, AZ, and TORONTO, Jan. 22 /CNW/ - ImaRx Therapeutics, Inc.\n(Nasdaq: IMRX) and Microbix Biosystems Inc. (TSE: MBX) today announced that\nthey have signed a Letter of Intent to manufacture urokinase and further\nexplore development for additional indications. Urokinase is an FDA approved\ndrug currently marketed under the brand name Abbokinase(R). The product has\nbeen used to treat patients in the United States for over 20 years.\n\n\nImaRx intends to transfer the manufacturing process and NDA to Microbix\ncreating a new source for urokinase. This new supply of urokinase will allow\nImaRx to continue to serve its current customers beyond its existing inventory\nof manufactured drug product. It also provides the opportunity to expand sales\nto additional vascular physicians and acute care institutions and to explore\nclinical development of urokinase for additional vascular indications. In\naddition, Microbix receives the right to further develop the drug for certain\nnew indications in catheter clearance and prophylaxis of serious catheter\nrelated complications such as blood stream infections and venous thrombi.\nMicrobix' future targets are also expected to include opportunities in\noncology and ophthalmology. Microbix is believed to be the only supplier\ncapable of producing urokinase on a commercial scale at its production\nfacility in Toronto.\n\n\n"The relationship with ImaRx provides the obvious benefits and attributes\nof working with an approved product," said William J. Gastle, CEO of Microbix.\nHe went on to say, "It accelerates our timeline to commercial scale\nproduction, revenue and development of our planned indications by allowing us\nto leverage an approved NDA."\n\n\n"This truly is a win-win for both companies," said Bradford Zakes,\nPresident and CEO of ImaRx. "This agreement enables ImaRx to rejuvenate a\nmarket for which we had a limited supply of product while simultaneously\nproviding both ImaRx and Microbix the opportunity to leverage urokinase into\nnew, untapped indications."\n\n\nImaRx will retain existing drug inventory and exclusive rights to sell\nthe drug for the currently approved indication and will gain access to a long\nterm drug supply through a supply agreement with Microbix. With this new\nsupply, ImaRx will have the ability to develop u...