* Says has potential to receive further $110 mln
* Posts Q1 loss of C$0.09
* Shares up as much as 9 pct
Nov 6 Canadian biopharmaceutical company Bioniche Life Sciences Inc BNC.TO said it received the first milestone payment of $6 million under a licensing deal with Endo Pharmaceuticals (ENDP.O) for its experimental bladder cancer drug.
Bioniche, which received an upfront payment of $20 million from Endo in July, said it had the potential to receive a further $110 million in payments associated with the achievement of certain clinical, regulatory and commercial milestones.
In July, Bioniche said Endo Pharma had licensed from Bioniche exclusive rights to develop and market its Urocidin treatment in the United States, with an option for global rights. [ID:nN10509607].
Urocidin, a bladder cancer treatment, is currently undergoing phase III clinical testing.
Bioniche also reported a wider first-quarter loss of C$6.8 million ($6.39 million), or 9 Canadian cents a share, as recessionary conditions in all markets pushed its sales down 12 percent.
Shares of Ontario-based Bioniche were up 6 percent at 45 Canadian cents Friday on the Toronto Stock Exchange. They touched a high of 47 Canadian cents earlier in the session. ($1=1.064 Canadian dollar) (Reporting by R. Manikandan in Bangalorev; Editing by Unnikrishnan Nair)
UPDATE 1-Kuroda: BOJ will act 'without hesitation' to revive inflation
JACKSON HOLE, Wyo., Aug 27 The recent dip in inflation in Japan may mean inflation expectations are not yet anchored at the Bank of Japan's two percent target, and the bank will approve more quantitative easing or lower negative interest rates "without hesitation," BOJ Governor Haruhiko Kuroda said on Saturday.
Coeure says "half-baked" govt reforms not helping ECB outlook
JACKSON HOLE, Wyo., Aug 27 Economic reforms by European governments have so far been "half-baked and half-hearted," and not helped authorities reach their inflation goals, European Central Bank executive board member Benoit Coeure said on Saturday.
BOJ's Kuroda: Recent inflation data may show expectations not yet anchored
JACKSON HOLE, Wyo., Aug 27 The recent dip in inflation in Japan may mean inflation expectations are not yet anchored at the Bank of Japan's two percent target, and the bank will approve more quantitative easing or lower negative interest rates "without hestitation," BOJ Governor Haruhiko Kuroda said on Saturday.