Edition:
United Kingdom

UCB Acquires Midazolam Nasal Spray From Proximagen


Friday, 20 Apr 2018 

April 20 (Reuters) - UCB SA UCB.BR::UCB TO EXPAND EPILEPSY PORTFOLIO WITH STRATEGIC ACQUISITION OF MIDAZOLAM NASAL SPRAY FROM PROXIMAGEN.UCB WILL MAKE AN UPFRONT CASH PAYMENT OF $150 MILLION.MIDAZOLAM NASAL SPRAY (USL261) COMPLETED PHASE 3 CLINICAL DEVELOPMENT AND IS READY TO BE FILED AS A NEW DRUG APPLICATION (NDA) IN 2018.IN ADDITION, PROXIMAGEN IS ELIGIBLE TO RECEIVE CONTINGENT PAYMENTS OF UP TO $220 MILLION BASED ON CERTAIN REGULATORY APPROVAL AND SALES-BASED MILESTONES.TRANSACTION IS EXPECTED TO CLOSE IN Q2 OF 2018.USL261 ALREADY GRANTED ORPHAN DRUG AND FAST TRACK DESIGNATION BY US FDA.