CENTENNIAL, Colo.--(BUSINESS WIRE)--Feb 28, 2012-- Cell>Point today announced that it had entered into a licensing agreement for the countries of South Korea, Taiwan, Malaysia, Vietnam, and the Philippines with HYUN IMC Co., Ltd., headquartered in Seoul, South Korea.
The license agreement covers the kit manufacture, marketing and distribution of Cell>Point's cancer and cardiology imaging product based on its EthylenediCysteine-n-acetyl-Glucosamine (EC-G) technology platform. Specifically, the product is technetium-99m-labeled EC-G (99mTc-EC-G). In addition, HYUN IMC will be responsible for sponsoring clinical studies and seeking regulatory approval in each of the countries covered by the license.
Cell>Point will receive an upfront payment, and development and regulatory milestone payments, as well as royalties on gross sales from HYUN IMC.
"We are confident that HYUN IMC will be an excellent partner that will affiliate with one of the leading Korean pharmaceutical companies to assist in the marketing of 99mTc-EC-G," said Greg Colip, Cell>Point CEO.
The five Asia Pacific countries comprise approximately 296 million people, according to the CIA World Factbook.
The company has already completed a Brazil license for the product, reaching Brazil's 206 million citizens and the second fastest-growing market globally, behind only China, according to healthcare industry information provider IMS Health.
99mTc-EC-G, invented at The University of Texas MD Anderson Cancer Center and acquired by Cell>Point, is a target-specific molecular imaging radiopharmaceutical that has moved into a Phase 3 lung cancer imaging trial and Phase 2 cardiology imaging trial.
99mTc-EC-G is injected intravenously and then imaged using a Single Photon Emission Computed Tomography (SPECT) camera, sometimes referred to as a gamma camera. The current standard in cancer molecular imaging is fluorine-18 FluoroDeoxyGlucose (18F-FDG) imaged using a Positron Emission Tomography (PET) camera, which are rare.
99m Tc-EC-G Phase 3 lung cancer imaging trial For the Phase 3 lung cancer study, all patients will be imaged on combination SPECT/CT (Computerized Tomography) and PET/CT cameras.
Where combination cameras are not available, a special workstation will be used to integrate the patient images taken from the stand-alone SPECT or PET cameras, as the case may be. Using a workstation to integrate the images allows the medical site to take full advantage of 99mTc-EC-G without the need for a new combination SPECT/CT camera on the premises. This should significantly expand the utilization of the installed SPECT camera base in the United States and the rest of the world, which is already orders-of-magnitude greater than the PET camera base. The lung cancer trial will be followed by Phase 4 trials in lymphoma and breast, liver, colorectal, prostate, and head and neck cancers.
99m Tc-EC-G Phase 2 cardiology imaging trial In a separate clinical trial, 99mTc-EC-G has moved from a Phase 1b to a Phase 2 cardiovascular imaging study. The product is the same as that used in the oncology trials. 99mTc-EC-G exhibits very low uptake in the normal heart; however, it exhibits very high uptake in heart areas that have suffered ischemia (i.e., profound deprivation of blood flow), such as a myocardial infarction. The Phase 2 cardiovascular trial will involve patients who have suspected coronary artery disease and compare 99mTc-EC-G images of the heart with images obtained from a full "stress/rest" Myocardial Perfusion Imaging (MPI) study.
It should be noted that one of the objectives of the study is to compare the results from the "rest" only portion of the 99mTc-EC-G study to the results from the full "stress/rest" MPI study. Based on clinical evidence from the previous Phase 1b study, Cell>Point believes clinical information learned from the 99mTc-EC-G "rest" study will be potentially greater than that of the full "stress/rest" MPI study, which uses 99mTc-sestamibi for the stress image and thallium-201 for the rest image and takes 5 to 7 hours. If the "rest" only 99mTc-EC-G study yields as good as or greater clinical information compared to traditional MPI, then the 99mTc-EC-G rest study-which can be conducted in 30 to 45 minutes-should dramatically improve cardiovascular imaging.
About Cell>Point Cell>Point is a commercialization-stage biopharmaceutical company developing universal molecular imaging agents and molecular therapeutics for the diagnosis, treatment and treatment monitoring of cancer, heart, and other diseases. Cell>Point has exclusive license to five drug-development platforms, all from The University of Texas MD Anderson Cancer Center in Houston, a world leader in cancer research and care. Information on Cell>Point's drug candidates and licenses, recent press releases, and patents and patent filings can be obtained through its website at www.cellpointweb.com. The company is headquartered in Centennial, Colo., and has additional offices in San Francisco and Houston.
About HYUN IMC Co., Ltd.
HYUN IMC is a South Korean company with interests throughout the Pacific Rim. The company's core business is in the manufacture and distribution of various medical isotope generators, the production and installation of hot cells, and trading in pharmaceutical raw materials. Through its affiliation with and support from Korean pharmaceutical companies, HYUN IMC made the decision to expand its nuclear medicine business by moving into radiopharmaceutical manufacturing and distribution. For radiopharmaceutical marketing, HYUN IMC will partner with Korean pharmaceutical companies.
CONTACT: Cell>Point Terry Colip, 303-689-9693 Managing Member email@example.com or Agency 33 Vincent Dipas, 303-591-7919 firstname.lastname@example.org KEYWORD: UNITED STATES VIET NAM MALAYSIA ASIA PACIFIC NORTH AMERICA COLORADO PHILIPPINES SOUTH KOREA TAIWAN INDUSTRY KEYWORD: HEALTH CARDIOLOGY CLINICAL TRIALS ONCOLOGY PHARMACEUTICAL SOURCE: Cell>Point Copyright Business Wire 2012 PUB: 02/28/2012 01:30 PM/DISC: 02/28/2012 01:30 PM http://www.businesswire.com/news/home/20120228006644/