PROSTRAKAN FILES FOR APPROVAL OF RAPINYL IN EUROPE
Orexo's European licensing partner ProStrakan has applied to obtain marketing approval in Europe for Rapinyl, Orexo's patented product for the treatment of breakthrough cancer pain.
In addition to the up-front license fee payment of 5 million euros received in January, and a milestone payment of 2 million euros received in connection with this regulatory filing, Orexo may receive other license fees and payments based on regulatory approvals and sales milestones. When ProStrakan introduces Rapinyl on the European market, the agreement also provides for double-digit royalties upon commercial sales.
Rapinyl is based on Orexo's proprietary technology for sublingual administration, where a tablet is placed under the tongue and rapidly disintegrates into ordered mucoadhesive units of the active substance. This preparation combines the properties of fast dissolution, quicker onset of action and predictable effect.
The marketing rights for Rapinyl are licensed to Kyowa Hakko Kogyo for the Japanese market, Endo Pharmaceuticals for the North American market and ProStrakan for the European market.
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