Microbix signs distributor for Kinlytic

Microbix Biosystems (TSX:MBX) has landed Riso Pharma to distribute its Kinlytic drug in the Middle East, with Riso guaranteeing to purchase no less than 50,000 vials of the treatment for pulmonary embolism over the next three years.

Sales are expected to begin in mid-2010.  “While final pricing for our therapy has not yet been established, even at a discounted pricing offered to these emerging markets, Microbix will profit substantially from this agreement covering the Middle East,” chief business officer Mark Cochran said in a statement.

Under the accord, Microbix will share in revenues from Kinlytic sales in all countries covered by the agreement.  Riso, which obtained exclusive rights to sell the drug in the Middle East, will be responsible for all commercialization activities.

Dr. Daniel Bagi, managing director of Riso, said that as with all of the company’s product sales, “we expect Kinlytic to achieve annual sales of several million dollars in the region.”

Mr. Cochran also said that Microbix expects to sign additional distribution agreements, such as this one, throughout 2010.