On July 9, 2009, Bioniche Life Sciences Inc., the publicly listed Canadian biopharmaceutical company and its wholly owned subsidiary Bioniche Urology Inc. (collectively Bioniche), entered into a US licence, development and supply agreement with Endo Pharmaceuticals Inc. concerning its lead drug candidate Urocidin™. The deal includes an option for global rights and calls for an up-front cash payment of US$20 million to Bioniche with the potential for up to US$110 million in additional payments based on clinical, regulatory and commercial milestones.
Urocidin™ is a formulation of Mycobacterial Cell Wall-DNA Complex for the treatment of bladder cancer that is in Phase III clinical program with the US Food and Drug Administration.
Bioniche was represented by Ogilvy Renault LLP with a team that included Richard Sutin and Jeremy Grushcow.
Endo Pharmaceuticals was represented in-house by Douglas D. Macpherson, vice president and associate general counsel, with external assistance provided by Drinker Biddle & Reath LLP with a team that included Neil Haimm and Justin Watkins.