Photocure reveals payment received for Lumacan development
Photocure has, to date, received payment of US$4.5 million from Salix Pharmaceuticals regarding the development of Lumacan, a photodynamic colorectal diagnostic intended to significantly improve the detection of precancerous and cancerous lesions in the colon through fluorescence diagnosis. Photocure signed a strategic global agreement with Salix for the development and commercialisation of Lumacan in October 2010. The collaboration with Salix is said to be progressing well.
Salix is currently developing an optimal oral formulation of Lumacan to be used in clinical studies. During the third quarter of 2012, Salix initiated an exploratory study designed to evaluate fluorescence kinetics of Lumacan following enema administration. The oral prototypes are planned to be introduced into clinical trial in 2013.