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NovaDel Pharma (NVD) Receives Milestone Payment from Velcera



8/24/2009 9:16:00 AM

FLEMINGTON, N.J.--(BUSINESS WIRE)--On August 17, 2009, NovaDel Pharma Inc. (the “Company”) (NYSE AMEX: NVD) received a milestone payment of approximately $150,000 from Velcera, Inc. (“Velcera”) relating to its License and Development Agreement with Velcera dated June 22, 2004 (the “Agreement”). The Agreement provides Velcera with a license to develop and commercialize animal health products using the Company’s buccal spray delivery technology. Steve Ratoff, the Company’s CEO, says, “I am very pleased to see one of our partners, Velcera, Inc., continue to move forward on development efforts utilizing NovaDel’s proprietary oral spray technology.”

Read at BioSpace.com


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