Progenics Pharmaceuticals Announces Agreement with FUJIFILM Toyama Chemical Co. for Automated Bone Scan Index (aBSI) Product ...
June 18 2019 - 8:05AM
Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX), an oncology company
developing innovative medicines and artificial intelligence to
find, fight, and follow cancer, today announced that EXINI, a
wholly owned subsidiary of Progenics, has entered into a transfer
agreement with FUJIFILM Toyama Chemical Co, Ltd. (FFTC) for the
rights to Progenics’ Automated Bone Scan Index (aBSI) product in
Japan for use under the name BONENAVI. BONENAVI has been licensed
to FFTC for use in Japan since 2011.
The aBSI product is designed to calculate the
disease burden of metastatic prostate cancer by quantifying the
hotspots on whole-body bone scans and automatically generate a bone
scan index, which has been validated as a prognostic imaging
biomarker for survival. aBSI permits a faster quantitative
assessment of tumor burden and is highly reproducible.
“As the first product from our digital
technology portfolio, aBSI exemplifies how we can apply machine
learning to automatically and reliably analyze images, provide
clinically meaningful data and ultimately improve treatment
decisions for men with prostate cancer,” said Mark Baker, Chief
Executive Officer of Progenics. “aBSI has become an integral
component of prostate cancer practice patterns in Japan, and we are
delighted to continue our relationship with FFTC, a leading
Japanese pharmaceutical and diagnostic company, to offer this
optimized technology solution to benefit both physicians and
patients.”
Under the terms of the agreement, FFTC will
acquire, by a combination of purchase and license, the Japanese
software, source code, supporting data and all Japanese patents
associated with the aBSI product from Progenics for use in Japan.
In exchange, Progenics will receive an upfront payment and service
fees for aBSI and other AI products over three years in Japan.
About aBSI
The Automated Bone Scan Index (aBSI) product, a
software as a medical device, is designed to quantify the
disease burden in bone scans of metastatic prostate cancer
patients. Recently, the aBSI has been validated as a prognostic
imaging biomarker for survival. aBSI offers a fast and reliable
alternative to manual interpretation of bone scan images of
metastatic prostate cancer.
About PROGENICS
Progenics develops innovative medicines and
other technologies to target and treat cancer, including:
therapeutic agents designed to treat cancer (AZEDRA®, 1095, and
PSMA TTC); prostate-specific membrane antigen (“PSMA”) targeted
imaging agents for prostate cancer (PyLTM); and imaging analysis
technology (aBSI and PSMA AI). Progenics has two commercial
products, AZEDRA, for the treatment of patients with unresectable,
locally advanced or metastatic pheochromocytoma or paraganglioma
(rare neuroendocrine tumors of neural crest origin) who require
systemic anticancer therapy; and RELISTOR® (methylnaltrexone
bromide) for the treatment of opioid-induced constipation, which is
partnered with Bausch Health Companies Inc.
This press release contains projections and
other "forward-looking statements" regarding future events.
Statements contained in this communication that refer to Progenics'
estimated or anticipated future results or other non-historical
facts are forward-looking statements that reflect Progenics'
current perspective of existing trends and information as of the
date of this communication. Forward looking statements generally
will be accompanied by words such as "anticipate," "believe,"
"plan," "could," "should," "estimate," "expect," "forecast,"
"outlook," "guidance," "intend," "may," "might," "will,"
"possible," "potential," "predict," "project," or other similar
words, phrases or expressions. Such statements are predictions
only, and are subject to risks and uncertainties that could cause
actual events or results to differ materially. These risks and
uncertainties include, among others, market acceptance for approved
products; the risk that the commercial launch of AZEDRA may not
meet revenue and income expectations; the cost, timing and
unpredictability of results of clinical trials and other
development activities and collaborations; the unpredictability of
the duration and results of regulatory review of New Drug
Applications (NDA) and Investigational NDAs; possible product
safety or efficacy concerns, general business, financial,
regulatory and accounting matters, litigation and other risks. More
information concerning Progenics and such risks and uncertainties
is available on its website, and in its press releases and reports
it files with the U.S. Securities and Exchange Commission,
including those risk factors included in its Annual Report on Form
10-K for the year ended December 31, 2017, as updated in its
Quarterly Reports on Form 10-Q for the quarterly periods ended June
30, 2018 and September 30, 2018. Progenics is providing the
information in this press release as of its date and, except as
expressly required by law, Progenics disclaims any intent or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
circumstances or otherwise.
Additional information concerning Progenics and
its business may be available in press releases or other public
announcements and public filings made after this release. For more
information, please visit www.progenics.com. Information on or
accessed through our website or social media sites is not included
in the company's SEC filings.
(PGNX-F)
ContactMelissa DownsInvestor
Relations(646) 975-2533mdowns@progenics.com
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