UCB: buys epilepsy nasal spray from Proximagen
(CercleFinance.com) - UCB has agreed to buy the experimental drug midazolam, a nasal spray intended as a rescue treatment of seizures in patients with epilepsy, from the UK based company Proximagen.
The intranasal drug has been granted orphan drug designation and fast track designation by the United States Food and Drug Administration (FDA), the biopharmaceutical company said.
After strong results in a Phase 3 clinical trial program, midazolam is intended to be filed as a new drug application (NDA) in the course of 2018, UCB said.
Under the terms of the agreement, UCB will make an upfront cash payment of 150 million dollars.
In addition, Proximagen is eligible to receive payments of up to 220 million dollars based on certain regulatory approval and sales-based milestones.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The intranasal drug has been granted orphan drug designation and fast track designation by the United States Food and Drug Administration (FDA), the biopharmaceutical company said.
After strong results in a Phase 3 clinical trial program, midazolam is intended to be filed as a new drug application (NDA) in the course of 2018, UCB said.
Under the terms of the agreement, UCB will make an upfront cash payment of 150 million dollars.
In addition, Proximagen is eligible to receive payments of up to 220 million dollars based on certain regulatory approval and sales-based milestones.
Copyright (c) 2018 CercleFinance.com. All rights reserved.