BioDelivery eyes $60M to get its anti-opioid gel through the FDA

Raleigh, NC's BioDelivery Sciences ($BDSI) has signed a deal to trade 7.5 million shares for $60 million, planning to spend the lion's share of the proceeds to launch Bunavail, a gel designed to treat opioid dependence. The company expects to hear final FDA word on the treatment by June 7, and BioDelivery plans to ramp up its commercialization activities to prepare for a near-term market debut. The rest of its raise will go toward a Phase III program for a topical gel to treat painful diabetic neuropathy and some potential pipeline-boosting acquisitions, the company said. More