BioDelivery Sciences (Nasdaq: BDSI) has moved closer to receiving $30 million in drug milestone development payments now that the firm and its part Endo Health have advanced a pain reliever.
The two firms have launched Phase 3 clinical trial recruitment for an opiate-based reliever of chronic pain called BEMA Buprenorphine. BEMA refers to BDSI’s proprietary means of drug delivery.
Two efficacy studies are planned, one for opioid experienced patients and another for “opiate naive.”
BDSI is eligible to receive the milestone payments as certain benchmarks are released and should the FDA accept a new drup application.
BioDelivery Sciences and Endo Health Solutions Announce Initiation of Enrollment in the Phase 3 Program for BEMA Buprenorphine for Chronic Pain
In other news, BDSI is also seeking a new vice president for business and strategic development.
BDSI said in an SEC filing on Friday that it had “terminated without cause” Benny Ward. Ward will receive a payment of a year’s salary, rights to vested options and unused vacation time.