Protox gets $3M upfront in $75M deal with Kissei

Canada's Protox Therapeutics has landed a $75 million development and commercialization agreement with Japan-based Kissei Pharmaceutical. The $75 million deal covers PRX302, Protox's PSA-activated pro-drug for prostate cancer and other prostate diseases. Kissei gets rights to the drug in Japan, while Protox retains control of PRX302 in all other countries. Despite having Phase II data in hand, Protox gets just $3 million up front and an additional near-term milestone payment of $5 million. The...