InSite, Bess Royalty, SWK Holdings deal

InSite said it received a $1 million milestone payment from Bess Royalty and the SWK Funding LLC subsidiary of SWK due to 2013 net sales of Besivance besifloxacin ophthalmic solution reaching undisclosed levels. Last April, InSite sold its royalty on Besivance sales for $15 million at closing. InSite is eligible for single-digit royalties on the 0.06% fluoroquinolone antimicrobial agent that uses InSite's DuraSite delivery technology. Bausch + Lomb Inc., which Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX, Montreal, Quebec) acquired last August, and Pfizer Inc. (NYSE:PFE, New York, N.Y.) co-promote Besivance in the U.S. to treat bacterial conjunctivitis (see BioCentury, April 8, 2013 & Aug. 12, 2013). ...