BDSI gets $30M milestone

BioDelivery Sciences has pocketed a $30 million milestone payment from Meda as part of their licensing agreement for the commercialization of BEMA Fentanyl, a new pain patch for cancer patients. The payment was triggered by an antitrust approval by the Federal Trade Commission. "We are projecting that our receipt of this significant milestone will help BDSI generate positive cash flow in 2007 and place us in a sound financial position in 2008 as we anticipate the commercial launch of BEMA Fentanyl," noted Dr. Mark Sirgo, BDSI's President and CEO. The company stands to gain another $30 million milestone if the FDA approves the drug. 

- see this release from BDSI

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