Posted January 6, 2009
BioDelivery Sciences signs $6M partnership deal for lead drug candidate
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Raleigh, N.C. —
BioDelivery Sciences (Nasdaq: BDSI) has signed a deal worth $6 million with its international partner for distribution of its powerful drug that targets breakthrough cancer pain.
BDSI received $3 million from Meda AB for rights to sell the drug, called Onsolis, in all countries except Taiwan and South Korea.
Meda AB also provided BDSI with a $3 million advance out of a forthcoming milestone payment estimated at $30 million.
Meda AB already owned distribution rights to Onsolis in the U.S., Europe, Canada and Mexico.
Onsolis is still being reviewed by the U.S. Food and Drug Administration. The drug includes a powerful opiate.
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