Accentia Biopharmaceuticals (ABPI) Makes Milestone Payment to Mayo Foundation Based on Fast Tracked Pivotal Phase 3 Study with SinuNase for the Treatment of Chronic Sinusitis
5/15/2007 12:42:45 PM
TAMPA, Fla.--(BUSINESS WIRE)--Accentia Biopharmaceuticals Inc. (NASDAQ: ABPI; “Accentia”) has made a milestone payment to the Mayo Foundation for Medical Education and Research (“Mayo”) for the Fast Tracked Pivotal Phase 3 study of SinuNase™, a unique formulation of low-dose intranasal amphotericin B, which the Company is developing for the treatment of chronic sinusitis (CS). Accentia has a worldwide exclusive license to the use of intranasal amphotericin B to treat CS through the life of the patents. Accentia has also extended its exclusive option agreement with Mayo for any and all other prescription antifungals for CS until December 6, 2008. Accentia intends to provide an update on the SinuNase clinical trial on June 27, 2007.
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