UroGen expands to additional cancer types through partnership with Israeli company
The company, traded on NASDAQ and focused on urinary tract cancer treatments, has announced a collaboration agreement with the Israeli firm Intragel, which has developed a biodegradable gel for the sustained release of drugs.
The Israeli-American pharmaceutical company UroGen, which develops and markets drugs for urinary tract cancers and is currently traded on NASDAQ with a market cap of approximately $2.5 billion, has announced a collaboration agreement with the Israeli company Intragel, the developer of a biodegradable gel for the sustained release of drugs.
UroGen will invest $7 million in Intragel, with $4 million paid immediately and $3 million upon reaching a near-term milestone, as part of a funding round currently underway. If the product successfully passes a Phase II trial starting soon, UroGen will have the option to continue development and commercialization in exchange for additional milestone payments and undisclosed royalties.
While UroGen's existing products also utilize a gel for sustained drug release in the urinary system, Intragel's product offers the advantage of being injectable and biodegradable within the body, unlike UroGen's current gel, which is flushed out by urine. Consequently, while UroGen's gel is suited for tumors in open cavities, Intragel's technology is suitable for various types of solid tumors, potentially allowing UroGen to expand its market reach. The company generates roughly $100 million in annual revenue from its first product, Jelmyto, and recorded $50 million in revenue from its newly launched product, Zusduri, in the last quarter alone. The company employs 250–300 people, 45 of whom are based in Israel.
CEO Liz Barrett stated: "We have been seeking a biodegradable gel that would complement our products and allow us to offer a treatment similar to our urinary tract approach for other types of cancer."
The company maintains a product pipeline extending beyond oncology.
The first indication for which the product is being tested is head and neck cancer. The goal is to inject the drug-loaded gel directly into the tumor, achieving efficacy without systemic side effects. Tim Simon, UroGen's VP of Business Development, noted that there are few anti-cancer drugs on the market today injected directly into tumors, describing it as an "unfulfilled promise."
Dr. Peter Simeon, CEO and co-founder of Intragel Therapeutics and a polymer expert, founded the company following his mother's death from inoperable lung cancer. In August 2020, the company received investment from the Israel Innovation Authority and the NGT incubator; it was officially established in 2021 and has since raised approximately $5 million from NGT group funds and private investors.
The technology was developed by Dr. Avi Domb, with Avner Geva also among the founders. Dr. Simeon explained: "The technology arrived at the company with pre-clinical proof. Within two years, we reached the first human trial with our first product, which combines cisplatin within the gel. Cisplatin is a highly toxic treatment, and many patients, particularly the elderly, cannot tolerate systemic administration. We enable them to receive the standard treatment without the side effects."
The company believes the product is suitable for other cancer types and has a pipeline outside of oncology. "We can inject our product subcutaneously to allow for the sustained release of complex drugs over a long period," Simeon said. "For instance, peptides like GLP1 drugs are a very hot field, and we already have proof of concept for replacing weekly injections with much less frequent ones. We also believe we can replace intravenous biological drugs with subcutaneous injections using sustained release. We have already conducted a proof-of-concept trial with a major pharmaceutical company."
