The tie up allows Rechon to manufacture and market Zolpimist, an oral spray formulation of zolpidem tartrate, outside North America.
As per the terms of the agreement, NovaDel is eligible to receive royalty from Rechon’s on each unit shipped from Rechon’s manufacturing facility.
Under the pact, Rechon is required to complete and submit a regulatory filing for Zolpimist in the European Union.
Additionally, Rechon is responsible to introduce Zolpimist in at least three countries outside the European Union within 12 months.
Rechon CEO Roland Holmqvist said they look forward to this extended partnership with NovaDel and they are impressed with NovaDel’s efficient oral spray drug delivery technology as used in Zolpimist.