Taxus Cardium in deal with Reddy's for Generx

Taxus Cardium Pharmaceuticals Group (OTCMKTS: CRXM) has entered into a binding term sheet with India’s Dr Reddy's Laboratories (NYSE: RDY) for an exclusive territorial license covering the co-development, marketing and sales of Generx (alferminogene tadenovec, Ad5FGF-4), an angiogenic microvascular gene therapy Phase III product candidate for patients with refractory angina, and myocardial ischemia due to cardiac microvascular insufficiency (CMI).

The agreement initially covers certain territories and international markets, including Russia, the Commonwealth of Independent States (CIS), Venezuela, Vietnam and Myanmar, and provides the right of first refusal for Dr Reddy's to negotiate additional exclusive license agreements to market and sell the Generx gene therapy product candidate in over 30 other countries in Latin America and the Association of Southeast Asian Nations.

Subsidiary Angionetics responsible for global commercialization