Jubilant Life, Australian Firm Terminate Pact For Imaging Agent Rights

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New Delhi: Jubilant Life Sciences on Wednesday said its wholly-owned subsidiary and Australia-based Cyclopharm have mutually called off their previously announced term sheet for exclusive commercial rights of Technegas in the US market.

Jubilant DraxImage Inc and Cyclopharm have mutually terminated their previously announced term sheet for exclusive commercial rights of Technegas in the US market, Jubilant Life Sciences said in a regulatory filing.

Both parties have agreed to discuss potential commercial opportunities once Cyclopharm obtains approval of the US Food and Drug Administration (FDA) for Technegas, it added.

Technegas is an imaging agent primarily used in Pulmonary Embolism (blockage of lung arteries). At present, it is sold in 55 countries including EU, Japan and Canada by CYC.

Shares in Jubilant Life Sciences, on Wednesday, ended 2.02 per cent lower at Rs 378.75 apiece on the BSE, whose benchmark Sensex index finished down 0.68 per cent.