License and distribution rights to Abeille’s transdermal patch for chemotherapy-induced nausea and vomiting gained.
Abeille Pharmaceuticals and SymBio Pharmaceuticals will together develop and sell Abeille’s transdermal patch for emesis, in Japan, China, Korea, Taiwan, and Singapore.
AB-1001, is a transdermal patch for chemotherapy-induced nausea and vomiting. It is designed to deliver a commercially available 5HT3-antagonist through the skin for a continuous period of up to five days. Abeille intends to initiate a Phase III trial of AB-1001 in the second quarter of 2007.
SymBio will pay Abeille an upfront licensing fee and milestone-based payments, which could total up to $21 million. The agreement also calls for double-digit royalty payments on commercial sales.
Abeille also granted SymBio the right of first refusal on Abeille’s next product in the field.