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news.BioAlliance Pharma has acquired the European commercial rights to ondansetron oral spray from NovaDel Pharma.
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Under the terms of the Agreement, BioAlliance paid NovaDel a license fee of $3 million upon closing. NovaDel is eligible for additional milestone payments totalling $24 million (an approval milestone of $5 million and sales-related milestone payments of $19 million) as well as a royalty on net sales.
BioAlliance and NovaDel anticipate collaborating in the completion of development activities for Europe, with BioAlliance responsible for regulatory and pricing approvals and then commercialization throughout Europe. NovaDel will be responsible for supplying the product.
Ondansetron is claimed to be the leading 5-HT3 antagonist largely used to prevent nausea and vomiting after chemotherapy, radiation, and surgery (tablets or intravenous forms). Upon successful development and approval, ondansetron oral spray (OS) could be the first anti-emetic to be available in Europe in an oral spray formulation.
Dominique Costantini, president and CEO of BioAlliance, said: “NovaDel’s expertise to design spray formulations will allow us to bring this unique delivery system to market. Strativa, Par Pharmaceutical’s branded division, is responsible for the clinical development of this product in the US and BioAlliance will use their US dossier for European registration.”