BRIDGEWATER, N.J.--(BUSINESS WIRE)--NovaDel Pharma Inc. (OTCBB: NVDL) today announced that it has received a $500,000 milestone payment in connection with the license and distribution agreement, dated October 27, 2009, between NovaDel Pharma Inc. and Mist Acquisition, LLC. The agreement provides Mist Acquisition, LLC with a license to manufacture and commercialize NitroMist® in North America. NitroMist is NovaDel’s oral spray formulation of nitroglycerin, which has been approved by the FDA for acute relief of an attack of angina pectoris, or acute prophylaxis of angina pectoris, due to coronary artery disease.
