UroGen Pharma Announces Agreement to License RTGel™ for Use with Neurotoxins to Allergan
14 October 2016 - 10:00PM
UroGen Pharma (“UroGen”), a privately-held, clinical-stage
biotechnology company, announced today that it has completed
an agreement to license worldwide rights to UroGen’s RTGelTM
delivery system technology for use with neurotoxins to Allergan
plc.
RTGel™ has thermo-sensitive properties that enable it to convert
from a liquid state when cold, into a gel once it reaches body
temperature. This allows increased residence time of drugs when
mixed with the gel and instilled in the bladder. Allergan has
agreed to make an upfront payment of $17.5 million, as well as
potential development and commercial milestones and royalties on
net sales.
Ron Bentsur, CEO of UroGen Pharma, said, “We are excited about
this licensing deal. We believe that Allergan is the ideal
partner for the RTGel™ technology. Under Allergan’s robust BOTOX
and uro-neurological development and commercial expertise, RTGel™
has the potential to become an important innovation for patients
suffering from OAB and related conditions." Mr. Bentsur
continued, "We are proud of the accomplishments of our team at
UroGen and believe that this deal is a testament to our in-house
research and drug development capabilities.”
Arie Belldegrun, M.D., Chairman of the Board of Directors of
UroGen Pharma, added, “This important collaboration with Allergan,
a world leading pharmaceutical company, highlights UroGen’s
commitment to discover and develop new therapies for urological
diseases with unmet clinical needs. We remain excited about our
ongoing pipeline, including the upcoming uro-oncology phase III
clinical trial of MitoGel for the treatment of upper tract
urothelial carcinoma.”
About Allergan plc
Allergan plc (NYSE:AGN), headquartered in Dublin, Ireland, is a
bold, global pharmaceutical company and a leader in a new industry
model – Growth Pharma. Allergan is focused on developing,
manufacturing and commercializing branded pharmaceuticals, devices
and biologic products for patients around the world.
Allergan markets a portfolio of leading brands and best-in-class
products for the central nervous system, eye care, medical
aesthetics and dermatology, gastroenterology, women's health,
urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, the Company’s
R&D model, which defines their approach to identifying and
developing game-changing ideas and innovation for better patient
care. This approach has led to Allergan building one of the
broadest development pipelines in the pharmaceutical industry with
65+ mid-to-late stage pipeline programs in development.
With commercial operations in approximately 100 countries,
Allergan is committed to working with physicians, healthcare
providers and patients to deliver innovative and meaningful
treatments that help people around the world live longer, healthier
lives.
For more information, visit Allergan's website at
www.Allergan.com.
About Overactive Bladder and RTGel™
Overactive Bladder (OAB) is a common, often disabling condition
associated with considerable negative impact on quality of life.
OAB results in an uncontrolled urge to urinate, frequent
urination and, in many patients, uncontrollable leakage of urine.
Standard first line treatment for OAB is anticholinergic
pills, however, the majority of the patients stop taking the pills
within one year due to an inadequate response to, or intolerance
of, the medication. BOTOX injection into the bladder is
approved as second line therapy for OAB and is considered an
effective therapeutic option.
Over 30 million in the US alone and 200 million worldwide suffer
from this burdensome disease.
About UroGen Pharma
UroGen Pharma is a clinical stage biotechnology company
providing advanced non-surgical, local treatments to address unmet
needs in the field of urology, with a focus on uro-oncology.
The company has developed RTGel™, a proprietary sustained
release, hydrogel-based formulation for potentially improving the
efficacy and safety profiles of existing drugs. UroGen
Pharma's sustained release technology enables longer exposure of
the urinary tract tissue to medications, making local therapy a
potentially more effective treatment option. UroGen's lead
product candidates, MitoGel and VesiGel, are designed to
potentially remove tumors by non-surgical means, to treat several
forms of non-muscle invasive urothelial cancer, including low-grade
upper tract urothelial carcinoma, or UTUC, and bladder cancer.
UroGen Pharma is headquartered in Israel and also
maintains a corporate office in New York City.
CONTACT:
Stephanie Carrington, ICR, Inc.
stephanie.carrington@icrinc.com
646-277-1282
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