Sweden's Meda has agreed to pay BioDelivery Sciences $30 million upfront and more than $60 million in milestones in exchange for a licensing deal covering the North American rights to BEMA Fentanyl, a new pain patch for cancer patients. BioDelivery Sciences also stands to gain $30 million on FDA approval and another $30 million in sales milestones.
"It is optimal timing for us to acquire BEMA Fentanyl rights so soon after the acquisition of our U.S. platform MedPointe," says Anders Lonner, CEO of Meda AB. "Our ambition with this unique product within the breakthrough cancer pain indication is to reach well over $200 million in yearly sales."
- here's the release
- and here's the report from the News Observer