Procyon Acquires Bioxalis Medica Inc.

Filed in archive Corporate and Industrial News on July 13, 2005

Procyon Biopharma Inc. announced last week the successful acquisition of Bioxalis Medica Inc. (Bioxalis), a Montreal-based biopharmaceutical company engaged in the research and development of targeted liposomes for cancer treatment. The acquisition of Bioxalis will bring to Procyon's pipeline an innovative technology platform for cancer therapy, TVT-Dox which is 12 months from an Investigational New Drug (IND) application.

The TVT technology comprises a liposome drug carriers containing Dovorubicin, a cytotoxic drug, combined with a targeting device (NGR peptide). The targeting device specifically identifies a receptor (CD13 isoform) found only in the vascular endothelium (blood vessel lining) of tumors. TVT-Dox therefore works by destroying new blood vessels arising from neovascularization in tumor and metastases. Research trials using animal models and human biopsies has shown TVT-Dox to be a very potent anti-tumor agent, with a high safety/efficacy profile.

Read Procyons' press release here.