Wednesday, July 23, 2014

Galena In Licensing Deal

Portland-based Galena Biopharma reported yesterday that the biopharmaceuticals firm is in a deal to license the rights for an oral soluble film from Monosol Rx. Galena is using MonoSol's PharmFilm oral soluble film technology for delivering its Zuplenz pharmaceutical, which prevents nausea and vomiting caused by cancer chemotherapy. Galena said ti will pay $5M in cash and stock for rights to MonoSol's film for use with its products, plus fixed, double-digit royalties on net sales and a one time sale milestone payment.