PhotoCure: GE Healthcare exercises U.S. option for Hexvix

By Elaine Rigoli

Tampa, Fla., July 31 - PhotoCure asa announced that GE Healthcare, PhotoCure's licensing partner for Hexvix, has declared the option to license Hexvix for the U.S. market.

This is an extension of the agreement signed earlier this year that gave GE Healthcare exclusive global rights outside of the Nordic region to market and distribute Hexvix, according to a news release. PhotoCure continues to be responsible for manufacturing and distribution.

Hexvix is a pharmaceutical product used for the diagnosis of bladder cancer.

By declaring the option, GE Healthcare gets the right to market and sell Hexvix in the United States. A payment of €9 million is attached to declaring the option. This is included in the total milestones of €28 million for the Hexvix licensing agreement, the release said.

PhotoCure, located in Oslo, Norway, is a pharmaceutical company.

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