Biovail inks deal for late-stage therapy

Details are sketchy, but Canada's Biovail is reporting this morning that it has licensed the rights to a late-stage therapy for sexual dysfunction. Biovail paid an undisclosed upfront fee and agreed to an undisclosed milestone schedule with an undisclosed company for BVF-324, a therapy that it says has already produced robust Phase II data. Biovail anticipates launching a Phase III trial in the first half of next year. Biovail made the announcement on the same day it reported that new generic competition is digging deep into its revenue.

"This agreement provides Biovail the opportunity to enter the multi-billion-dollar, global sexual-dysfunction market with a novel treatment option that has generated robust Phase II data, and that has intellectual property protection beyond 2020 through a method-of-use patent," said Dr. Douglas Squires, Biovail's CEO. "This exciting product has the potential to address a large unmet clinical need, and to make a significant difference in the lives of millions of men and women."

- see the release for more information

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