The Munich-based biopharmaceutical company, WILEX AG, has signed a licensing agreement with Ion Beam Applications (IBA) for the worldwide marketing, distribution and sales of its diagnostic product candidate Redectane (CA9-SCAN), a radiolabelled antibody visualized by PET that is currently in a pivotal phase III registration trial.
The agreement gives IBA the exclusive global rights and licenses required for manufacturing and marketing the product.
According to the agreement, WILEX will manufacture the cold antibody and be responsible for clinical development. IBA will be responsible for manufacturing by labeling the antibody and will be responsible for distribution, sales and marketing of Redectane.
WILEX will receive an upfront payment, milestone payments and certain contributions-in-kind. After the planned market approval, WILEX will get 20 percent on ex-factory sales until a sales volume of EUR 7 million is reached. After that WILEX will get 45 percent on total ex-factory sales. WILEX retains worldwide co-promotion rights and may use these to co-promote Redectane amongst urologists and oncologists, according to IBA.
The companies agreed not to disclose any further details of the agreement.
IBA and WILEX previously had entered into a manufacturing agreement for the ongoing Phase III registration trial in December 2006.