April 4, 2006

Canada-based Microbix Biosystems and Chicago's Angiogen have signed an agreement to commercialize a proprietary technology that has shown promise for treating prostate, colon and other human cancers, the companies have reported.

Angiogen will provide the rights to a technology that uses urokinase -- a serine protease found in the blood stream and the extracellular matrix -- in a cocktail containing an additional small chemical drug. Once inside the body, this cocktail generates the anticancer agent Angiostatin, which destroys specific blood vessels, thereby removing the blood supply that nourishes the tumor. The cancer cells are then starved of the energy needed to survive and grow. Microbix will be the exclusive supplier of this product for all oncology indications.

Mark Arizmendia, president of Angiogen, noted that "this is an outstanding opportunity to marry Microbix' expertise in urokinase and cell culture with our innovative intellectual property and drive shareholder value for both companies as well as benefit cancer patients in the U.S. and abroad."