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Document Preview Biodelivery Sciences International, Inc. Announces Licensing of Its Topical Bionasal (TM) Amphotericin B for Chronic Sinusitis |
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Title: |
Biodelivery Sciences International, Inc. Announces Licensing of Its Topical Bionasal (TM) Amphotericin B for Chronic Sinusitis |
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Entities: |
Accentia, Inc.; BioDelivery Sciences International Inc.; L. G. Zangani, LLC; Francis E. ODonnell, Jr.; Jeanine Quinn |
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Date: |
2004 |
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Size: |
7KB total |
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Price: |
$32 |
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ID: |
#286006 |
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| For Release: | IMMEDIATELY | |||
| Contact: | Francis E. O?Donnell, Jr., M.D | Jeanine Quinn | ||
| President and CEO | L.G. Zangani, LLC | |||
| 973-972-0015 | 908-788-9660 | |||
NEWS RELEASE
BioDelivery Sciences International, Inc. Announces Licensing of Its
Topical BioNasal (TM) Amphotericin B for Chronic Sinusitis
NEWARK, N.J., April 13, 2004 ? BioDelivery Sciences International, Inc. (Nasdaq: BDSI; BDSIW) today announced it has licensed a topical formulation of its lead product, encochleated amphotericin B to Accentia, Inc. Accentia, Inc., a Hopkins Capital Group company, is a privately-held, vertically-integrated specialty biopharmaceutical company that provides comprehensive biopharmaceutical services, including product commercialization, clinical manufacturing, contract sales and product distribution. Accentia is commercializing technology licensed from Mayo Foundation for Medical Education and Research for the treatment of chronic sinusitis (rhinosinusitis) in the US and European Union (EU). Chronic rhinosinusitis (CRS) is the largest market opportunities lacking an approved pharmaceutical in the US. CRS affects an estimated 37 million patients in the US and a comparable number in the EU. For purposes of market-size comparison, the hypercholesterolemic market in the US accounts for the top-selling pharmaceuticals in the industry and the market is estimated to be approximately 36 million patients. The technology consists of using low-dose topical antifungals to control the debilitating symptoms of chronic rhinosinusitis. According to the terms of the license, Accentia will pay BDSI a running royalty of 12-14% on net sales in the US. Accentia estimates that annual prescription cost will be approximately $1000/patient. Accentia is responsible for all expenses related to the development of an encochleated BioNasal (TM) amphotericin B for the indication of CRS in the US and EU including the filing of an IND and clinical trials. BDSI retains world-wide rights to the oral and intravenous formulations of encochleated amphotericin B and non-US and non-EU rights to a topical formulation of BioNasal (TM) encochleated amphotericin B.
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