Protox Inks Agreement with Kissei for Commercialization of Prostate Disease Treatment

Protox Therapeutics has entered into an exclusive US$75 million license agreement with Kissei Pharmaceutical for the development and commercialization of its PSA-activated pro-drug, PRX302, in Japan for Benign prostatic hyperplasia (BPH), prostate cancer and other diseases of the prostate. The former retains exclusive rights to PRX302 in all other territories.

Under the terms of the agreement, the former will receive an upfront payment of US$3 million and is eligible to receive a near term milestone payment of US$5 million, as well as progressive payments of up to US$67 million upon achievement of specific development, regulatory and commercial milestones.

In addition Protox will receive a double-digit royalty fee plus a drug supply fee based on product sales. Kissei will be responsible for all costs associated with further development, regulatory approvals, commercialization and marketing of PRX302 in Japan.