BioDelivery, Meda announce European licensing agreement on BEMA Fentanyl

By Elaine Rigoli

Tampa, Fla., Aug. 3 - BioDelivery Sciences International, Inc. and Meda AB will develop and commercialize BioDelivery's BEMA Fentanyl product in Europe.

Under the agreement, BioDelivery will grant Meda rights to the European development and commercialization of BEMA Fentanyl in exchange for an upfront fee to BioDelivery, certain milestone payments and double-digit royalties to be received by BioDelivery on product sales.

Payments include a $2.5 million payment upon execution of the agreement and additional milestones that would, if achieved, provide BioDelivery with up to an additional $7.5 million in revenue, according to a news release.

Meda will manage the clinical development and regulatory submissions in Europe. Upon regulatory approval, Meda will exclusively commercialize BEMA Fentanyl in Europe.

BioDelivery will retain all development and commercial rights in the United States, Japan, Australia and other territories outside of Europe, the release said.

BEMA Fentanyl is a phase 3 product being developed for the treatment of "breakthrough" cancer pain.

Meda is a specialty pharmaceutical company and is based in Solna, Sweden.

BioDelivery is a specialty pharmaceutical company with headquarters in Morrisville, N.C.

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