|
|
Article: NovaDel Licenses its NitroMist[R] Lingual Spray to Mist.
- Article from:
- Heart Disease Weekly
- Article date:
- November 15, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NovaDel Pharma Inc., (NYSE AMEX: NVD) has entered into a licensing agreement with privately-held Mist Acquisition, LLC to manufacture and commercialize the NitroMist[R] lingual spray version of nitroglycerine, a widely-prescribed and leading short-acting nitrate for the treatment of angina pectoris. Under terms of the agreement, Mist will pay NovaDel a $1,000,000 licensing fee upon execution of the agreement, milestone payments totaling an additional $1,000,000 over the next twelve months and ongoing performance payments of seventeen percent (17%) of net sales (see also NovaDel Pharma Inc.).
Through a separate license agreement with Mist, Akrimax Pharmaceuticals, ...