Moberg Pharma and Cadila Pharmaceuticals Enters Agreement for Late-Stage Development and Commercialization of BUPI
Tuesday, March 22, 2016
Moberg Pharma AB (MOB.ST) today announced that Moberg Pharma and Cadila Pharmaceuticals Limited – one of the largest healthcare manufacturing groups in India – entered a Development and License Agreement for BUPI – a novel lozenge formulation of bupivacaine for pain management in oral mucositis patients.
Under the Development and License Agreement, Cadila Pharmaceuticals will conduct a phase III program in India and is granted an exclusive license to commercialize BUPI in India and Africa, with the exception of South Africa. Moberg will receive the rights to use all data generated from the Development program outside India and Africa and a royalty on sales in India and Africa. The parties may also agree on a supply agreement for a subsequent commercial phase. Financial terms were not disclosed.
In June 2015, Moberg Pharma received a Eurostars grant which provides co-financing of one phase III study for BUPI in Europe. A phase II study was recently completed with positive results which supported the efficacy and safety of BUPI. This agreement with Cadila in combination with the Eurostars grant means that Moberg’s investment for phase III trials is substantially reduced.
“We are excited to enter this collaboration with Cadila Pharmaceuticals and to leverage our combined innovation capabilities as well as Cadila’s clinical, manufacturing and commercialization capabilities in India. Establishing innovative partnership models supports Moberg’s commitment to bringing novel treatments to patients in underserved niches,” said Peter Wolpert, CEO of Moberg Pharma AB.
“In line with our philosophy to bring innovative solutions to unmet medical needs, we are delighted to partner with Moberg Pharma on BUPI to bring more efficacious pain management to patients with oral mucositis, a condition with high prevalence in India”, said Dr. Rajiv I. Modi, Chairman and Managing Director, Cadila Pharmaceuticals Ltd., India.
Source : finance.yahoo.com
