Photocure has reached agreement with BioSyent Pharma to reacquire the marketing and distribution rights to Cysview in Canada.
The parties entered into a final agreement, stipulating that commercial rights will transfer to Photocure on January 1st, 2022. The reacquisition of marketing and distribution rights enables Photocure’s direct management of the Cysview brand in Canada and consolidates the territory into Photocure’s existing U.S. business to form its North America sales segmen, it states.
“We are very pleased to integrate the Canadian territory into our U.S. business to form Photocure’s North America commercial segment, expanding the direct market opportunity for Cysview by approximately 10%,” says Daniel Schneider, President and CEO. “Our agreement to regain rights from BioSyent supports our strategy to leverage our commercial infrastructure and consolidate our brands in major markets. BioSyent has made great strides introducing Cysview into Canada. We are thankful for their efforts and look forward to leveraging the recently strengthened Canadian treatment guidelines and continuing the work to improve reimbursement in the region so that more bladder cancer patients have access to blue light cystoscopy (BLC) with Cysview.”
Executed on its global expansion strategy
In 2015, Photocure entered into an exclusive distribution agreement with BioSyent for the commercialization of Cysview in Canada. Photocure has since grown its U.S. operations and executed on its global expansion strategy by reacquiring the commercial rights to its Hexvix brand and business in continental Europe in October 2020.
BioSyent has served as a strategic partner in the Canadian market, building awareness and creating interest in the treatment of bladder cancer using BLC with Cysview. BLC is included in the Canadian guidelines, and reimbursement processes are at advanced stages in the main provinces of British Columbia and Ontario. Each year, there are approximately 35,000 TURBT procedures performed in Canada and 12,000 new bladder cancer patients diagnosed, states the company.
The new agreement
Based on the new agreement, BioSyent will continue to support Cysview customers in Canada and will facilitate the start-up of new accounts during a transition period. Simultaneously, the process for market authorization (MA) transfer to Photocure will take place. BioSyent will continue active customer support and secure uninterrupted product distribution and book sales up until the MA transfer is complete.
Photocure will immediately begin the processes of setting up product distribution and fulfilling regulatory obligations and will also begin assembling the personnel needed for Canadian operations, it states. Photocure will also begin leveraging BioSyent’s market and customer insight and integrating these insights with its own expertise in market access and sales and marketing. After the MA transfer is complete, Photocure will assume all Cysview rights and obligations in Canada and start booking sales.
Photo of Daniel Schneider: Photocure