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 USFDA approval 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.