Cytogen signs deal with C.R. Bard
Cytogen of Princeton, NJ, has inked a 10-year co-marketing dealwith C.R. Bard of Murray Hill, NJ, for sales of Cytogen's ProstaScintmonoclonal antibody-based agent for detecting prostate cancer.A Food and Drug Administration advisory committee
Cytogen of Princeton, NJ, has inked a 10-year co-marketing dealwith C.R. Bard of Murray Hill, NJ, for sales of Cytogen's ProstaScintmonoclonal antibody-based agent for detecting prostate cancer.A Food and Drug Administration advisory committee recommendedProstaScint for approval last month (SCAN 7/31/96).
Under terms of the deal, C.R. Bard's Bard Urological divisionwill market ProstaScint to office and hospital-based urologists.The product should be a useful adjunct to a tumor assessment serviceunder development at the division to help in staging prostatecancer.
Cytogen will sell ProstaScint to the medical imaging marketand will handle ongoing clinical trials, manufacturing, distribution,and FDA activities related to ProstaScint's product license application.
Cytogen last month released financial results for its secondquarter (end-June) that showed revenues doubling and the company'snet loss narrowing. For the quarter, Cytogen had revenues of $1.6million, compared with $812,000 for the second quarter of 1995.Most of the increase was due to license and contract revenue:Revenues from sales of Cytogen's OncoScint CR/OV product increasedonly slightly, to $359,000 from $354,000 in the same period lastyear. Cytogen's net loss was $5.3 million, compared with a netloss of $6.3 million in the second quarter of 1995.