BioDelivery (BDSI) Receives U.S. Patent for BEMA Products; Gets $15M Milestone

April 17, 2012 7:04 AM EDT
BioDelivery Sciences International, Inc. (Nasdaq: BDSI) announced that the U.S. Patent and Trademark Office (USPTO) has formally awarded BDSI's patent No. 13/184306, "Transmucosal Delivery Devices with Enhanced Uptake," which extends the patent protection for BDSI's BioErodible MucoAdhesive (BEMA) products, BEMA Buprenorphine and BEMA Buprenorphine/Naloxone, by seven years to 2027. The USPTO had issued a Notice of Allowance to BDSI for this patent as previously disclosed in February of this year.

BDSI now confirms that the $15 million milestone associated with its licensing and development agreement with Endo Pharmaceuticals (Nasdaq: ENDP) for BEMA Buprenorphine is payable, bringing the total milestone payments received thus far to $45 million.

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