Archive for the ‘ImaRx Therapeutics Inc. IMRX’ Category

Dutton Associates Featured Company: ImaRx Therapeutics, Inc. (IMRX)

Tuesday, August 19th, 2008

ImaRx Therapeutics, Inc. is a biopharmaceutical company engaged in developing and commercializing therapies for vascular disorders in the United States. The company’s operations are focused in two main areas.

First, the company generates revenue from the sale of urokinase, a thrombolytic drug used for the treatment of acute massive pulmonary embolism, or blood clots in the lungs. The company sells urokinase to wholesale distributors under the Kinlytic brand name.

The company uses the revenue from urokinase to fund its SonoLysis clinical program. The company’s research and development efforts are focused on using its proprietary microbubble technology in conjunction with focused ultrasound (SonoLysis) to treat ischemic stroke, as well as other vascular disorders.

Microbubble Technology

Lipid coated microbubbles represent a new class of agents with both diagnostic and therapeutic applications, and ImaRx Therapeutics is on the technological forefront in this area. The company has learned that microbubbles can be used in several different ways.

First, microbubbles have low-density, and when stabilized with lipid coatings, impart unusual properties for diagnostic imaging and drug delivery. Certain gases trapped within lipid coatings make microbubbles sufficiently stable for circulation in the vasculature. Because of this, microbubbles can be activated with ultrasound energy to deliver site-specific bioactive materials when the microbubbles are associated with therapeutic agents. In addition, microbubbles can be used in the treatment of vascular thrombosis when they do not carry therapeutic agents.

Next, the company believes that the blood brain barrier can be reversibly opened without damaging the neurons using ultrasound applied across the intact skull to activate microbubbles within the cerebral micro-vasculature for delivery of therapeutic compounds to the brain. Finally, the company believes that microbubbles can be used in gene therapy.

Since ImaRx Therapeutics’ proprietary microbubbles are designed to be administered in conjunction with ultrasound, ImaRx has developed a collaboration agreement with Koninklijke Phillips Electronics N.V. (NYSE: PHG) to use the Phillips ultrasound technology.

ImaRX Pharmaceutical Corp. (IPC) was founded in 1991 to develop diagnostic contrast agents for radiology. ImaRx Therapeutics’ intellectual property portfolio includes more than 140 US patents plus foreign equivalents, and more than 30 US patents pending. These patents support the company’s microbubble technologies and will expire no earlier than 2012.

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ImaRx Therapeutics, Inc.’s (IRMX) Core Product Acquired by Microbix Biosystems

Thursday, May 8th, 2008

ImaRx Therapeutics, Inc. (NASD: IMRX) has recently signed a letter of intent stating that Microbix Biosystems will acquire urokinase inventory and related company assets from ImaRx for $17 million in cash.

Urokinase, an FDA-approved thrombolytic, is a treatment for acute massive pulmonary embolism. It has been commercialized for more than 20 years and has been used on more than 4 million patients. Since 2006, ImaRx has been selling urokinase for medical purposes since they acquired a four-year inventory of the product from Abbott Laboratories. The company’s stock rose 154.62% on Wednesday.

The terms of the agreement state that Microbix will pay $12 million upfront and an additional $5 million after the inventory has been stabilized. Microbix will be taking full responsibility for all sales involving urokinase, as well as the marketing and regulatory compliance requirements. ImaRx will be assisting Micorbix as part of a services agreement.

“The proceeds to be generated through this transaction provide ImaRx with a solid source of non- dilutive financing. We are very pleased with the terms under which we have reached agreement with Microbix on the sale of our urokinase asset,” said Bradford A. Zakes, President and CEO of ImaRx. “Through this transaction, ImaRx will have gained access to operating capital under favorable economic terms that will enable the company to continue the advancement of our core SonoLysis technology.

“Whereas we viewed the manufacturing partnership with Microbix under the structure of our original letter of intent as an attractive means of maintaining an ongoing supply of urokinase in the marketplace, we ultimately concluded that selling the entire asset to Microbix created an even greater value proposition for ImaRx by enabling the company to accelerate the monetization of our existing inventory and utilize the proceeds towards the advancement of our SonoLysis program,” concluded Mr. Zakes.

ImaRx Therapeutics, Inc. is a biopharmaceutical company that engages in developing and commercializing therapies for vascular disorders in the U.S. The company focuses on research and development of therapies for stroke and other vascular disorders using their proprietary microbubble technology.

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