DRAXIMAGE to distribute Neoprobe radioactive tracing agent

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Neoprobe, a developer of oncology and cardiovascular surgical and diagnostic products, and DRAXIMAGE have signed an initial agreement for DRAXIMAGE to market and distribute Neoprobe’s Lymphoseek on an exclusive basis in the European Union, Switzerland, Scandinavia, Turkey, Canada and India.

The two companies said they hope to complete definitive agreement in the next 90 days.

Under the terms of the proposed arrangements, unradiolabeled Lymphoseek kits will be marketed and sold to hospitals through DRAXIMAGE’s marketing channels in the territory covered by the agreements, the Dublin, Ohio-based Neoprobe said.

The companies said that specific business terms will not be disclosed until the definitive agreements have been negotiated and executed.

Neoprobe said that Lymphoseek is a radioactive tracing agent being developed for use with gamma detection devices in a surgical procedure, intraoperative lymphatic mapping. The tracing agent has completed a multi-center phase 2 clinical study, which evaluated the efficacy and safety of Lymphoseek in patients with either melanoma or breast cancer.