BioDelivery Sciences Popping 160% On License and Development Agreement

Shares of BioDelivery Sciences

are seeing much strength during Friday's pre-market trading after announcing a development agreement with Endo Pharmaceuticals

to develop and commercialize BEMA Buprenorphine for the treatment of chronic pain. BEMA Buprenorphine utilizes BDSI's patented and proven BioErodible MucoAdhesive technology to deliver the opioid analgesic buprenorphine. The agreement in total, is worth up to $180 million to BDSI if all milestones are met, which includes an upfront payment of $30 million, as well as intellectual property, development, regulatory and commercial milestone payments. Additionally, BDSI will receive a tiered mid to upper teen royalty on U.S. net sales of BEMA Buprenorphine. Under terms of the agreement, Endo will be responsible for the manufacturing, distribution, marketing and sales of BEMA Buprenorphine on a worldwide basis. Endo will commercialize BEMA Buprenorphine outside the U.S. through its own efforts or through regional partnerships. Currently, shares of BioDelivery Sciences are up 161% at $2.17.