BioDelivery Sciences Receives Patent Allowance Triggering $15 Million Milestone Payment from Endo Pharmaceuticals

BioDelivery Sciences International, Inc. BDSI announced the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance of BDSI's patent application (No. 13/184306) that, once formally granted, will extend the exclusivity of the BioErodible MucoAdhesive (BEMA) drug delivery technology for BEMA Buprenorphine and BEMA Buprenorphine/Naloxone from 2020 to 2027. A Notice of Allowance is issued when the USPTO has determined to grant a patent. Once the issue fee is paid, the final granting of the patent takes place, typically within a few months. As a part of BDSI's recently signed BEMA Buprenorphine licensing and development agreement with Endo Pharmaceuticals ENDP, BDSI is entitled to a milestone payment in the amount of $15 million upon the final granting of this patent. "We are very pleased by the allowance of this patent application by the USPTO, that will not only provide non-dilutive capital to BDSI in the next couple months, but importantly extends the period of exclusivity, and thus the potential for a longer royalty stream, for BEMA Buprenorphine in its use for treating chronic pain following FDA approval and commercial launch," stated Dr. Mark A. Sirgo, President and Chief Executive Officer of BDSI. "It is an added benefit that this patent upon granting will afford similar protection to BEMA Buprenorphine/Naloxone for the treatment of opioid dependence."