Nabi sells cancer drug Aloprim to Bioniche

US drugmaker Nabi Biopharmaceuticals says it has executed a definitive agreement to sell its hyperuricemia treatment Aloprim (allopurinol sodium) to Ireland-based Bioniche Teoranta, part of Canada's Bioniche group. Nabi said that the proceeds of the sale will reach $3.7 million, adding that it will receive an initial fee of $1.3 million at closing, followed by payments of $1.4 million and $1.0 million, at the end of 2007 and 2008.

The drug, which was originally acquired by Nabi from Dutch firm DSM (Marketletters passim), is sold in the USA as a treatment for hyperuricemia in patients suffering from leukemia, lymphoma or solid organ tumors. The transaction is expected to close in the next few months.