BioCentury
ARTICLE | Company News

InSite, Bausch + Lomb, Bess Royalty, SWK Holdings deal

April 8, 2013 7:00 AM UTC

InSite sold its royalty on sales of Besivance besifloxacin ophthalmic solution to Bess Royalty and the SWK Funding LLC subsidiary of SWK for up to $16 million. InSite will receive $15 million at closing and is eligible for a $1 million payment in February 2014 if net sales reach undisclosed levels in 2013 and 2H13. InSite is eligible for single-digit royalties on the 0.06% fluoroquinolone antimicrobial agent that uses InSite's DuraSite delivery technology. Bausch + Lomb and Pfizer Inc. (NYSE:PFE, New York, N.Y.) co-promote Besivance in the U.S. to treat bacterial conjunctivitis. ...