BioDelivery Sciences International has received two new patents were granted extending patent protection around three of its Food and Drug Administration approved products.
The patented products include Belbuca buccal film, Bunavai buccal film and Onsolis.
Additionally, a patent was issued on March 21, which extends patent protection on Onsolis from January 2020 to July 2027.
BioDelivery Sciences is a specialty pharmaceutical company with a focus on pain management and addiction medicine. It is using drug delivery technologies to develop and commercialize new applications of proven therapies aimed at addressing unmet medical needs.
The U.S. rights to Onsolis are licensed to Collegium Pharmaceutical. Under the terms of the licensing agreement, the patent grant is associated with a $3 million milestone payment to BioDelivery Sciences, along with a $4 million milestone payment tied to the first commercial sale of Onsolis.
The payments are anticipated in the first half of 2018.
The Raleigh-based company reported a net loss of $15.9 million in the fourth-quarter of 2016, compared to net income of $10.2 million in the fourth quarter of 2015.
Revenue for the quarter was $3.9 million, down from the $32.2 million in revenue in the fourth quarter of 2015.
BioDelivery Sciences stock closed Friday at $1.90 per share, up 1.33 percent.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism