Neuromed Pharmaceuticals is paying $30 million up front along with a scheduled set of milestone payments for the U.S. rights to ALZA's pain therapy Oros Hydromorphone. The therapy received an approvable letter from the FDA in 2000 and Neuromed says it believes that one late-stage clinical trial will give it the data it needs for an approval.
"Our licensing of the U.S. rights to Oros Hydromorphone from ALZA is an excellent fit with Neuromed's strategy to address the significant need for alternative chronic pain treatments," said Neuromed CEO Dr. Christopher Gallen. "Hydromorphone is an effective and well-known pain reliever and we believe a once-daily version can provide a significant benefit for the large number of patients with moderate to severe pain that require pain relief around the clock." Neuromed was a 2006 Fierce 15 company
- check out the release on the deal
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