RALEIGH, N.C., Dec. 14, 2017 (GLOBE NEWSWIRE) -- BioDelivery Sciences International, Inc. (NASDAQ:BDSI) announced that it has received the required 90-day notice from Collegium Pharmaceutical, Inc. regarding termination of the license and development agreement for ONSOLIS® (fentanyl buccal soluble film) between BDSI and Collegium.
BDSI and Collegium entered into a license and development agreement for U.S. rights to ONSOLIS in May 2016, and the companies have since been collaborating on the transfer of product manufacturing to a new supplier. Collegium’s decision to terminate the license involved their recent execution of a license agreement to commercialize Nucynta® (tapentadol) Immediate Release and Nucynta® ER (tapentadol).
“We understand the strategic decision made by Collegium to focus its efforts and resources outside the breakthrough cancer pain space based on its recent transaction,” said Dr. Mark A. Sirgo, Vice Chairman, President and CEO of BDSI. “We appreciate the development work Collegium has supported to move ONSOLIS toward the the upcoming FDA submission of the Prior Approval Supplement required for manufacturing site approval and subsequent launch.”
Dr. Sirgo continued, “We will be assessing options for commercializing ONSOLIS, including the use of our current sales force, or potentially out-licensing the product. We have sufficient time prior to the manufacturing site potential approval to explore these options. Either way, we do not currently believe that the return of ONSOLIS to us will have a material impact on our business.”
Termination of the agreement will be effective on March 8, 2018.
About BioDelivery Sciences International
BioDelivery Sciences International, Inc. (NASDAQ:BDSI) is a specialty pharmaceutical company with a focus in the areas of pain management and addiction medicine. BDSI is utilizing its novel and proprietary BioErodible MucoAdhesive (BEMA®) technology and other drug delivery technologies to develop and commercialize, either on its own or in partnership with third parties, new applications of proven therapies aimed at addressing important unmet medical needs.
