Photocure appoints Genotests as exclusive partner for Hexvix in Chile
OSLO, Norway, Aug. 13, 2020 /PRNewswire/ -- Photocure ASA (OSE: PHO), today announced the appointment of Genotests SpA as the exclusive distributor for the commercialization of Hexvix® in Chile.
"We are proud to take our first step into the South American continent and make Hexvix accessible to Chilean bladder cancer patients. Chile is a stable, well regulated market with a strong economy, and Genotests is well positioned to leverage their network of urologists and uro-oncologists both in the private and public hospitals", says Dan Schneider, President and CEO of Photocure.
Photocure has appointed Genotests, a privately held company founded in 2014 specializing in genetic tests for cancer targeting cancer specialists, as the exclusive distributor of Hexvix in Chile. Under the terms of the agreement, Genotests will fund all costs to secure regulatory approval and the launch and commercialization of Hexvix in Chile. Photocure will manufacture the product and support Genotests with the regulatory file, training and promotional materials.
There are approximately 1500 new bladder cancer cases annually in Chile, an estimated 5000 TURBT* procedures and nearly 3000 surveillance cystoscopies.
"I am delighted to get the opportunity to bring Hexvix to Chile. It is a fantastic product that the urology community has been waiting for, especially after the successful demo done in collaboration with Karl Storz at the Chilean Urology Conference. After following Photocure and Hexvix/Cysview for years I know it is a complex sell, and we are well prepared with an established relationship with the leading cystoscopy equipment supplier. We'll initiate the regulatory submission process immediately and look very much forward to work with the Photocure team", says Oscar Varas, founder and owner of Genotests.
*TURBT: trans-urethral resection of bladder tumors
About Bladder Cancer
Bladder cancer ranks as the sixth most common cancer worldwide with 1 650 000 prevalent cases (5 year prevalence rate), 550 000 new cases and almost 200 000 deaths annually in 2018.1
Approx. 75% of all bladder cancer cases occur in men.1 It has a high recurrence rate with an average of 61% in year one and 78% over five years.2 Bladder cancer has the highest lifetime treatment costs per patient of all cancers.3
Bladder cancer is a costly, potentially progressive disease for which patients have to undergo multiple cystoscopies due to the high risk of recurrence. There is an urgent need to improve both the diagnosis and the management of bladder cancer for the benefit of patients and healthcare systems alike.
Bladder cancer is classified into two types, non-muscle invasive bladder cancer (NMIBC) and muscle-invasive bladder cancer (MIBC), depending on the depth of invasion in the bladder wall. NMIBC remains in the inner layer of cells lining the bladder. These cancers are the most common (75%) of all BC cases and include the subtypes Ta, carcinoma in situ (CIS) and T1 lesions. In MIBC the cancer has grown into deeper layers of the bladder wall. These cancers, including subtypes T2, T3 and T4, are more likely to spread and are harder to treat.4
1 Globocan. Incidence/mortality by population. Available at: http://globocan.iarc.fr/Pages/bar_pop_sel.aspx
2 Babjuk M, et al. Eur Urol. 2019; 76(5): 639-657
3 Sievert KD et al. World J Urol 2009;27:295-300
4 Bladder Cancer. American Cancer Society. https://www.cancer.org/cancer/bladder-cancer.html
About Hexvix®/Cysview® (hexaminolevulinate HCl)
Hexvix®/Cysview® is a drug that is selectively taken up by tumor cells in the bladder making them glow bright pink during Blue Light Cystoscopy (BLCTM). BLC™ with Hexvix® /Cysview® improves the detection of tumors and leads to more complete resection, fewer residual tumors and better management decisions.
Cysview® is the tradename in the U.S. and Canada, Hexvix® is the tradename in all other markets. Photocure is commercializing Cysview® /Hexvix® directly in the U.S. and the Nordic region and has strategic partnerships for the commercialization of Hexvix®/Cysview® in Europe, Canada, Australia and New Zealand. Please refer to https://bit.ly/2wzqSQQ for further information on our commercial partners.
Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com, www.hexvix.com, www.cysview.com
About Genotests SpA:
Genotests is a medical company in-licensing and commercializing innovative cancer diagnostics test and treatments for health care providers and their patients in the Latin America & Caribbean countries, with special emphasis in the field of uro-oncology.
For more information, please contact:
President and CEO
Tel: + 1-609-759-6515
Media and IR enquiries:
Corporate Communications (Norway)
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Company Codes: Berlin:PHS, Bloomberg:PHO@NO, ISIN:NO0010000045, LSE:0IMT, OTC-PINK:PHCUF, RICS:PHO.OL, Stockholm:PHOO, Frankfurt:PHS, Stuttgart:PHS