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Isotechnika terminates voclosporin agreement with Iljin

Tuesday, January 31 2012 | Comments
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Isotechnika Pharma Inc. exercised its right to terminate the development, distribution and license agreement it entered into with Iljin Life Science Co. Ltd. regarding voclosporin for transplant and autoimmune indications.  As a result, Isotechnika regained the full rights to voclosporin in these indications in the United States and other regions outside of Canada, Israel, South Africa, China, Taiwan and Hong Kong. The company already held full rights in Europe. "In order to have...

Isotechnika Pharma Inc. exercised its right to terminate the development, distribution and license agreement it entered into with Iljin Life Science Co. Ltd. regarding voclosporin for transplant and autoimmune indications. 

As a result, Isotechnika regained the full rights to voclosporin in these indications in the United States and other regions outside of Canada, Israel, South Africa, China, Taiwan and Hong Kong. The company already held full rights in Europe.

"In order to have more meaningful discussions with Iljin, it was determined that the current contract was not appropriate. Terminating the existing agreement frees [Isotechnika] to engage Iljin, as well as other companies who have expressed interest in voclosporin," said Robert Foster, Isotechnika's chief executive officer. "This action has given the company the opportunity to secure a new, more favorable, relationship to effectively bring voclosporin to the market."

As previously reported, Isotechnika entered into a global development and commercialization license agreement with Vifor Pharma Ltd. in which Vifor received an exclusive license to voclosporin for the treatment of lupus and all proteinuric nephrology indications. The license is applicable in the United States and other territories outside of Canada, South Africa, Israel, China, Taiwan and Hong Kong. 

When Isotechnika announced the Vifor license agreement, the company noted that it had reached an agreement with Iljin whereby Iljin licensed back to Isotechnika the autoimmune indications in the countries that fell within Vifor's territory to facilitate the Vifor agreement.

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