BioDelivery Sciences International (BDSI) Exercises Option to Acquire U.S. BEMA(TM) Rights
9/10/2007 10:10:37 AM
MORRISVILLE, N.C.--(BUSINESS WIRE)--BioDelivery Sciences International, Inc. (Nasdaq:BDSI) has exercised its option to acquire the U.S. rights to the BEMATM drug delivery technology that BDSI licensed from QLT USA, Inc. The acquisition gives BDSI full ownership of the BEMATM technology and eliminates any payment of royalties to or the sharing of milestone payments with QLT USA going forward for any BEMA product. More specifically, now that the technology has been purchased, BDSI is not required to share the upfront payment, or any future financial benefit it expects to receive from the partnership agreement signed with Meda AB last week involving BEMA Fentanyl.