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BNP 32,762

Blue Note Pharmaceuticals

Drug Names(s): DOV Diltiazem

Description: DOV Diltiazem is DOV's proprietary formulation of diltiazem. DOV diltiazem combines an immediate release component with a controlled release component.

Deal Structure: In November 2007, DOV Pharmaceutical and Blue Note Pharmaceuticals entered into an agreement relating to DOV diltiazem. Under the Agreement, DOV granted Blue Note the exclusive right to develop and market products incorporating DOV diltiazem for the management of human diseases or conditions including, but not limited to, hypertension, and/or angina. Under the terms of the Agreement, DOV will receive an upfront payment of $500,000 within 25 days and is entitled to additional milestone payments of up to $5.7 million. In addition, DOV is entitled to receive up to double-digit royalties on net product sales.

In July 2010, Euthymics Bioscience and DOV Pharmaceutical jointly announced that they have signed a merger agreement in connection with the pending merger and acquisition of DOV by Euthymics. The acquisition price for DOV is for up to $2.0 million in cash, payable in two installments, representing a total of approximately $0.015 per share of DOV common stock. If the transaction...See full deal structure in Biomedtracker

Partners: Euthymics Bioscience, Inc.


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