Bioniche wraps up with Endo, forges path for Urocidin

Bioniche Life Sciences (ASX:BNC) is looking ahead to new clinical trials for its bladder cancer treatment, Urocidin, with an eye to applying for marketing approval in Canada ahead of other regions.

This follows the rights for Urocidin returning to Bioniche from Endo Pharmaceuticals after the latter canned a phase III trial in November last year due to poor recruitment.

Under the termination agreement, Bioniche regains control of Urocidin, while Endo receives a 5% royalty on all revenues from the product for 10 years from the first sale, or the expiration of patents, whichever comes first.

Bioniche now holds responsibility for driving Urocidin through the final stages of clinical trials, with a vision to gaining approval in Canada and using revenues from that country to fund additional trials for other jurisdictions.

The company is also actively seeking partners in other regions, with the hope of up-front and milestone payments to help bring Urocidin to market.

“We remain committed to the successful commercialisation of Urocidin, which we believe is an important and much-needed therapy for those suffering from non-muscle-invasive bladder cancer,” said Bioniche President and CEO, Graeme McRae.

Bioniche (ASX:BNC) shares are trading at 30c, down from 45c at the time of the announcement that it was parting ways with Endo in November.