Microbix Signs Agreement With Riso Pharma

Microbix Biosystems has entered into a marketing and supply agreement with Riso Pharma for Kinlytic vials over the next three years. Kinlytic (Urokinase) is Microbix’ thrombolytic agent for treating pulmonary embolism.

Under the terms of the agreement, Microbix will grant Riso exclusive rights to market Kinlytic throughout the Middle East. Microbix will share in the revenues from Kinlytic sales in all countries covered by the agreement and Riso will be responsible for all commercialisation activities. Microbix expects Kinlytic sales to commence around mid-year 2010.

Daniel Bagi, managing director of Riso, said: “We are very pleased to add Kinlytic to our diverse product offerings throughout the Middle East. As with all of our product sales, we expect Kinlytic to achieve annual sales of several million dollars in the region.”

Reportedly, Urokinase, which Microbix has re-branded as Kinlytic, has been administered to over four million patients.

Mark Cochran, chief business officer of Microbix, said: “Microbix is off to a great start as we bring Kinlytic back to the world’s medical community. We expect to provide our clot-busting therapy to other parts of the world by signing additional agreements, such as this one, throughout 2010.

“And, while final pricing for our therapy has not been yet established, even at a discounted pricing offered to these emerging markets, Microbix will profit substantially from this agreement covering the Middle East.”