Business
Microbix enters agreement with Angiogen to commercialize a proprietary technology that uses urokinase product for treating cancer
Microbix enters agreement with Angiogen to commercialize a proprietary technology that uses urokinase product for treating cancer.
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, April 4 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) today\nannounced the signing of a worldwide exclusive agreement with Angiogen LLC to\ncommercialize a proprietary technology that has shown promise for treating\nprostate, colon and other human cancers.\nBased in Chicago, Angiogen is providing exclusive rights to its patented\ntechnology which uses urokinase in a cocktail containing an additional FDA\napproved small chemical drug. Once inside the body, this Angiostatic Cocktail\ngenerates the anti-cancer agent Angiostatin 4.5 (AS4.5), which destroys\nspecific blood vessels, thereby removing the blood supply that nourishes the\ntumor. The cancer cells are then starved of the energy needed to survive and\ngrow.\nMicrobix manufactures low molecular weight urokinase and under this\nagreement will be the exclusive supplier of this product for all oncology\nindications.\nMicrobix and Angiogen will jointly pursue third-party pharmaceutical\npartners for oncology applications, and they expect that the first commercial\napplication of the drug will be for metastatic prostate cancer. Other\nindications, including colon cancer, will be tested soon thereafter. The\npharmaceutical partner will be responsible for clinical trials and FDA\napproval.\nAngiogen will receive a royalty from sales of the Angiostatic Cocktail,\nand Microbix will generate revenue by supplying urokinase used in the\ncombination. The market for such cancer therapies is very large. Sales of\ncancer drugs were over $ 40 billion in 2004 and are growing. More than $3.5\nbillion a year is now spent on colorectal cancer therapy, and some $5.4\nbillion annually on prostate cancer therapy.\nPrior clinical studies using the Angiostatic Cocktail in humans (at low\ndoses) and compassionate use cases have shown very promising results for this\nnew technology, including generation of Angiostatin 4.5, the reduction of some\ntumors, and a decline in serum tumor markers, with benign side effects.\nThe proprietary technology may also be effective in combination with\nother clinical techniques. Today's announced agreement brings together the\nclinical expertise of Dr. Gerald Soff, a leading cancer researcher and\ninventor of this new approach to cancer therapy, and Microbix, which\nmanufactures urokinase at a new state-of-the-art facility in Toronto.\nMicrobix stated e...