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news.Neoprobe and Draximage, a division of Draxis Specialty Pharmaceuticals, have executed a non-binding letter of intent, whereby Draximage would market and distribute Lymphoseek on an exclusive basis in the EU, Switzerland, Scandinavia, Turkey, Canada and India.
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Neoprobe and Draximage hope to complete definitive agreements in the next 90 days. Under the terms of the proposed arrangements, unradiolabeled Lymphoseek kits will be marketed and sold to hospitals through Draximage’s marketing channels in the territory covered by the agreements.
Lymphoseek is a proprietary radioactive tracing agent being developed for use with gamma detection devices in a surgical procedure known as intraoperative lymphatic mapping.
David Bupp, president and CEO of Neoprobe, said: “We look forward to working with Draximage for the successful commercial launch of Lymphoseek in the EU and potentially other markets.”