BioDelivery Sciences International, Inc. (NASDAQ: BDSI) made some waves Wednesday in equity markets, on signing an exclusive deal with Purdue Pharma related to licensing and distribution rights of BELBUCA in Canada.
BioDelivery, a specialty pharmaceutical company based out of Raleigh, North Carolina, with a focus in pain management and addiction medicine, is joining forces with Purdue, a firm located in the Toronto-area town of Pickering. In return for the licensing and distribution rights to BELBUCA in Canada, BioDelivery Sciences is eligible to receive upfront and potential milestones of up to $4.5 million Canadian as well as royalties on net sales.
BELBUCA was recently approved by Health Canada for the management of pain severe enough to require daily, continuous, long-term treatment and that is opioid-responsive and for which alternative options are inadequate.
BELBUCA incorporates BDSI's BioErodible MucoAdhesive (BEMA®) drug delivery technology and is the first and only long-acting opioid that uses novel buccal film technology to deliver buprenorphine for appropriate patients living with chronic pain.
The uppermost reason for Canadians seeking medical attention is pain,, with one in five Canadian adults suffering from chronic pain.
BioDelivery CEO Mark Sirgo said, “The licensing of BELBUCA in Canada is a very important step for BioDelivery Sciences in broadening access to BELBUCA beyond the U.S., and we look forward to the introduction of the product."
BioDelivery shares prospered five cents, or 1.9%, as the clock approached noon Wednesday to $2.70, within a 52-week trading range of $1.50 to $3.10.
