BioDelivery Sciences International has sold the rights to its treatment for severe cancer-treatment-related pain to Meda AB (Sweden).
The deal brings $30 million to BDSI up front. Meda will make further payments to BDSI upon completion of milestones and based on sales. Meda gains U.S., Canadian and Mexican commercialization rights to BDSI's flagship BEMA(TM) Fentanyl product for the treatment of "breakthrough" cancer pain.
Under this agreement, Meda will be responsible for the marketing and distribution of BEMA Fentanyl in the U.S., whose launch is anticipated in late 2008. In addition, Meda will be responsible for the management of the post-NDA approval clinical development program.
Read the full news release.