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news.US-based specialty pharmaceutical company, Apricus Biosciences has executed a binding term sheet for the sale and license of NovaDel Pharma's NitroMist (nitroglycerin sublingual spray) in territories outside of the US, Canada and Mexico.
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The FDA-approved NitroMist is a nitrate vasodilator indicated for acute relief of an attack or acute prophylaxis of angina pectoris (chest pain) due to coronary artery disease.
Developed using NovaDel’s proprietary system, NitroMist has a much longer shelf-life than currently available sublingual tablet products, which offers the potential benefit of greatly reduced waste due to product expiration.
Currently, Apricus plans to file for approval of NitroMist in multiple international territories, including Europe.
Under the sale agreement, Apricus Bio will acquire patents, patent applications, trademarks and trademark applications to NitroMist including an exclusive, perpetual and royalty-free license.