NovaDel, Suda deal
On Dec. 26, 2012, NovaDel said it granted Suda an option to acquire NovaMist sublingual delivery technology and other products. The companies declined to disclose financial terms. The option covers IP related to NovaMist, plus NVD-201, a serotonin (5-HT) receptor agonist in Phase II/III testing for migraines, and Duromist sildenafil, which is in Phase I/II testing for erectile dysfunction. The option also covers three preclinical products: Zensana ondansetron lingual spray for nausea/vomiting, sildenafil ( NVD-101) for pulmonary arterial hypertension (PAH) and midazolam ( NVD-301) for pre-procedure anxiety. Suda has 45 days to complete due diligence, after which it has 90 days to exercise the option. The deal excludes NovaDel's NitroMist nitroglycerin lingual spray, which is approved in the U.S. to treat angina pectoris due to coronary artery disease (CAD), and ZolpiMist zolpidem oral spray, which is a non-benzodiazepine GABA A receptor agonist approved in the U.S. for the short-term treatment of insomnia characterized by difficulties with sleep initiation. ...