JapanBridge pays $26M for ProStrakan patch

JapanBridge is paying $26 million in upfront and milestone payments for the rights to develop and commercialize Sancuso, a transdermal patch for the prevention of chemotherapy-induced nausea and vomiting. This patch was developed by Scotland's ProStrakan, which submitted an NDA for the drug in 2007 and is awaiting final approval. ProStrakan expects to launch the drug this year. JapanBridge will market Sancuso in Japan, China, Taiwan, Singapore and Malaysia, and receive royalties on sales there.

MPM Capital and Itochu Corporation formed JapanBridge to "address unmet needs for important new Western oncology therapies in the Far East," according to the statement. This is JapanBridge's first deal.

- see this press release for more