PHOTOCURE ANNOUNCES EXCLUSIVE PARTNER FOR HEXVIX® IN AUSTRALIA AND NEW ZEALAND
Oslo, Norway, 22 May, 2015: Photocure ASA (OSE: PHO), a specialty pharmaceutical company focused on photodynamic technologies in dermatology and cancer, announces today the appointment of Juno Pharmaceuticals as their exclusive distributor for the registration and commercialization of Hexvix in Australia and New Zealand. Hexvix is Photocure's flagship product to aid in the diagnosis and management of bladder cancer.
Under the terms of the agreement, Photocure will receive 500,000 in milestone payments for the rights to Hexvix in the territory, of which Photocure has received 250 000.
Juno, who will fund all costs to secure regulatory approval, will begin the filing process immediately. . During the review process, Juno Pharmaceuticals will initiate the preparations for the launch of Hexvix in Australia and New Zealand. The market potential in the territory is estimated to be similar to the potential in the Nordics, where Photocure commercializes Hexvix with its own sales team.
Kjetil Hestdal, President & CEO of Photocure, said: "We are happy to report that Hexvix commercialization is progressing well and we continue to expand into new territories to ensure patients and Urologists have access to the most optimal treatment for the diagnosis and management of bladder cancer. We are pleased to have secured Juno Pharmaceuticals as our new distribution partner in Australia and New Zealand with their strong and experienced team".
For further information, please contact:
Photocure
President & CEO Kjetil Hestdal
Tel: + 47 913 19 535, Email: kh@photocure.no
CFO Erik Dahl
Tel: +47 50 55 000, Email: ed@photocure.no
About Photocure ASA
Photocure ASA, headquartered in Oslo, Norway, is a specialty pharmaceutical company and world leader in photodynamic technology. Based on our unique proprietary Photocure Technology® platform, Photocure develops and commercializes highly selective and effective solutions in disease areas with high unmet medical need, such as bladder cancer, HPV and precancerous cervical lesions, colorectal cancer and skin conditions. Our aim is to provide solutions that can improve health outcomes for patients worldwide. Photocure is listed on the Oslo Stock Exchange (OSE: PHO). Information about Photocure is available at www.photocure.com.
About Hexvix®/Cysview®
Hexvix®/Cysview® (hexaminolevulinate hydro-chloride) is an innovative breakthrough technology in the diagnosis and management of non-muscle-invasive bladder cancer. It is designed to selectively target malignant cells in the bladder and induce fluorescence during a cystoscopic procedure using a blue-light enabled cystoscope. Using Hexvix®/Cysview® as an adjunct to standard white-light cystoscopy enables the urologist to better detect and remove lesions, leading to a reduced risk of recurrence. Hexvix®/Cysview® is approved in Europe and the USA.
About Juno Pharmaceuticals
Juno Pharmaceuticals is a privately held global health care company dedicated to introducing a range of innovative pharmaceutical products. Juno Pharmaceuticals was founded in 2012 by a group of experienced international pharmaceutical executives and are a fast growing global specialty pharmaceutical company. Our product portfolio and pipeline covers a broad spectrum of therapeutic areas and formats including oral solid dosages, injectable, suspensions, ophthalmic solutions, creams and patches. With a primary focus on the hospital market channel, Juno has access to a range of presentations across multiple therapeutic areas including biosimilar products. An extensive global network of manufacturers allows us to source niche, lifesaving products for our customers. Juno operates in the Australian, Canadian, Polish and United Kingdom markets.
All trademarks mentioned in this release are protected by law and are registered trademarks of Photocure ASA.