Meda gets access to Asia
The biotech giant Meda has recently acquires world-wide rights to the cancer breakthrough pain drug Onsolis.
Biodelivery Sciences International, BDSI. The product, which is currently in registration phase, has been documented for treatment of breakthrough cancer pain in opioid tolerant patients.
Onsolis is a potential treatment for breakthrough pain, which means episodes of severe pain, in opioid tolerant patients with cancer. Onsolis consists of a small, dissolvable, polymer film, formulated with the opioid narcotic fentanyl for application to the inner lining of the cheek.
Meda already holds exclusive rights to Onsolis in the US, EU, Canada and Mexico from previous agreements with BDSI. The new agreement grants Meda the rights outside these countries and access to interesting markets such as Russia, Japan, South East Asia and Australia. A one time cash payment of USD 3 million has been made to BDSI for these rights and no further milestone payments are due.
BDSI and Meda have also reached agreement of a USD 3 million advance payment on the FDA approval milestone which is anticipated during the second quarter of 2009. Consequently, that milestone has been reduced from USD 30 million to about USD 27 million.