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PhotoCure ASA Receives Payment for Development of Lumacan from Salix Pharmaceuticals Ltd

Wednesday, 2 Jan 2013 02:30am EST 

PhotoCure ASA announced that it has received a payment of USD 4.5 million from Salix Pharmaceuticals Ltd regarding development of Lumacan to date and the commitment to continue the development. Lumacan is 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 commercialization of Lumacan in October 2010. The collaboration with Salix is progressing well. Salix is currently developing an optimal oral formulation of Lumacan to be used in clinical studies. 

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