Glycyx PharmaVentures a development and biopharma investment company started by Lorin K. Johnson, Ph.D and Valeant Pharmaceuticals Intl Inc (NYSE:VRX) plan to enter into an exclusive license agreement under which Valeant will license Glycyx to produce, market and commercialize products containing methylnaltrexone bromide. The products are used for oncology indications. According to terms of the agreement, Glycyx will market the products to countries outside Canada and the United States. The agreement will be extended to the U.S and Canada if Glycyx does not exploit the product in such counties.
Glycyx will be required to pay royalties and milestones to Valeant according as a percentage of the sales generated. The agreement is subject to ongoing negotiations by both companies for a mutually and a win-win license agreement. Currently Valeant markets methylnaltrexone bromide under the brand name Relistor® which is used in the treatment of opioid induced constipation (OIC)
Opioids are some of the widely used and preferred drugs used on cancer patients with acute and chronic pain and in the perioperative period. A number of, retrospective studies have pointed to a possible tumor progression as a result of opioid use. This is due to negative impacts in advanced cancer patients.
The molecular actions of the peripheral µ-opioid receptor (MOR) antagonists that work to block progression of cancer in patients has been studied and proved in in vitro as well as animal models. A recently study further showed that the use of methylnaltrexone leads to increase in the rate of survival in a large number of patients with advanced cancer.
Lorin said it is pleasing to have the opportunity to develop the use of methylnaltrexone in oncology. He adds they will be focusing the program on the treatment of pancreatic cancer.
Glycyx PharmaVentures, Ltd was founded by Lorin K. Johnson, Ph.D., who is also the founder of Salix Pharmaceuticals. The company which is located on the Isle of Man, is engaged in biopharma development and mainly invests in clinical stage medicinal products in areas with big demands.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:
The Next Big Thing In Biotech?https://journaltranscript.com
Get our top rated alerts on the biotech sector
A new field of medicine needs attentionhttps://journaltranscript.com
Here are the reasons to invest in CMXC
Traders Need To Know This Nowhttps://journaltranscript.com
WallStreet is loading up on this stock. Find out why