April 20, 2018 / 5:21 AM / 3 months ago

BRIEF-UCB Acquires Midazolam Nasal Spray From Proximagen

April 20 (Reuters) - UCB SA:

* UCB TO EXPAND EPILEPSY PORTFOLIO WITH STRATEGIC ACQUISITION OF MIDAZOLAM NASAL SPRAY FROM PROXIMAGEN

* UCB WILL MAKE AN UPFRONT CASH PAYMENT OF $150 MILLION

* MIDAZOLAM NASAL SPRAY (USL261) COMPLETED PHASE 3 CLINICAL DEVELOPMENT AND IS READY TO BE FILED AS A NEW DRUG APPLICATION (NDA) IN 2018

* IN ADDITION, PROXIMAGEN IS ELIGIBLE TO RECEIVE CONTINGENT PAYMENTS OF UP TO $220 MILLION BASED ON CERTAIN REGULATORY APPROVAL AND SALES-BASED MILESTONES

* TRANSACTION IS EXPECTED TO CLOSE IN Q2 OF 2018

* USL261 ALREADY GRANTED ORPHAN DRUG AND FAST TRACK DESIGNATION BY US FDA Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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