DUBLIN, Ohio--(BUSINESS WIRE)--Neoprobe Corporation (OTCBB:NEOP - News), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced that Neoprobe and DRAXIMAGE, a division of DRAXIS Specialty Pharmaceuticals, Inc. (“DRAXIMAGE”) have executed a non-binding letter of intent, whereby DRAXIMAGE would market and distribute Lymphoseek® on an exclusive basis in the European Union, Switzerland, Scandinavia, Turkey, Canada and India. DRAXIS Specialty Pharmaceuticals, Inc. is an indirect wholly-owned subsidiary of Jubilant Organosys Ltd., an integrated pharmaceutical industry player based in India. The two companies hope to complete definitive agreements in the next 90 days. Under the terms of the proposed arrangements, unradiolabeled Lymphoseek kits will be marketed and sold to hospitals through DRAXIMAGE’s marketing channels in the territory covered by the agreements. Specific business terms will not be disclosed until the definitive agreements have been negotiated and executed.
