Valera Pharmaceuticals, Inc announced that it has entered into an agreement with BioPro Pharmaceutical, Inc. (USA), based in San Francisco, California. This agreement provides BioPro with certain exclusive rights in the Asia-Pacific region to develop, distribute and sell Vantas, Valera's first product, a 12-month implant for the palliative treatment of advanced prostate cancer.

Utilizing Valera's proprietary Hydron Technology, Vantas is designed to deliver an even predetermined dose of histrelin over a 12-month period. Vantas was approved by the US Food and Drug Administration in October 2004 and was launched for commercial sale by Valera, utilizing its own sales force, in the US in November 2004.

BioPro has been granted exclusive rights to pursue regulatory approval, distribute, market, and sell Vantas in the Asia-Pacific region, excluding Japan. Under the agreement, Valera received an up-front payment and is entitled to milestones and other fees as well as royalties on future sales. Valera will produce product inventory for BioPro for use in clinical trials while also retaining manufacturing and other production rights relevant to future product sales.

"We are pleased to be partnering Vantas with BioPro," said David S Tierney, MD, Valera's president and CEO. "BioPro is well positioned to exploit the potential of Vantas in the Asia-Pacific region, because the company is focused on cancer therapeutics and has an infrastructure in place across that geographic marketplace."

"We are delighted to enter into this agreement for the in-licensing of Vantas from Valera as it achieves a significant and key milestone for BioPro Pharmaceutical, Inc.," said Peter Huang, chairman and CEO of BioPro Pharmaceutical, Inc. "The introduction of Vantas will create an additional important therapeutic option for Asian based physicians and their patients with hormone sensitive prostate cancer."

Valera Pharmaceuticals, formerly known as Hydro Med Sciences, has strategically built its pharmaceutical strengths to leverage its historical strengths in polymer biomaterial research.