BioDelivery Sciences Awarded Patent Resulting in $15 Million Milestone Payment
17-Apr-2012
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RALEIGH, NC - BioDelivery Sciences International Inc. announced in a press release that the US Patent and Trademark Office (USPTO) has formally awarded BDSI's patent No. 13/184306, "Transmucosal Delivery Devices with Enhanced Uptake," which extends the patent protection for BDSI's BioErodible MucoAdhesive (BEMA) products, BEMA Buprenorphine and BEMA Buprenorphine/Naloxone, by seven years to 2027. The USPTO had issued a Notice of Allowance to BDSI for this patent as previously disclosed in February of this year.
BDSI now confirms that the $15 million milestone associated with its licensing and development agreement with Endo Pharmaceuticals for BEMA Buprenorphine is payable, bringing the total milestone payments received thus far to $45 million.
BioDelivery Sciences International is a specialty pharmaceutical company that is leveraging its novel and proprietary patented drug delivery technologies to develop and commercialize, either on its own or in partnerships with third parties, new applications of proven therapeutics.