BEDMINSTER, N.J.--(BUSINESS WIRE)--
Nautilus Neurosciences, Inc. has completed a transaction for the sale of
the U.S. and Canadian rights to CAMBIA® (diclofenac potassium for oral
solution) to Depomed, Inc. (NASDAQ:DEPO). CAMBIA is a non-steroidal
anti-inflammatory drug (NSAID) indicated for acute treatment of migraine
attacks with or without aura in adults ages 18 years of age or older.
Under the terms of the agreement, Depomed will acquire the rights to
CAMBIA in return for total consideration of up to $53.7 million in cash
of which $48.7 million is upfront and $5.0 million is payable upon
reaching certain milestones based on future annual net sales. Cambia is
licensed to Tribute Pharmaceuticals in Canada.
"We congratulate Depomed on the acquisition of Cambia. Cambia has
provided relief to thousands of migraine sufferers in the United States
since Nautilus launched the product in 2010," said William Maichle,
Chief Executive Officer of Nautilus Neurosciences. "We are confident
that Depomed will continue to provide the same outstanding customer
service to Healthcare Providers and patients that the Nautilus
Neurosciences team has provided and wish them luck in the promotion of
Stifel acted as the exclusive financial advisor to Nautilus
Neurosciences in this transaction.
CAMBIA is a powdered formulation of diclofenac potassium that is
dissolved in liquid. It has a rapid onset and has demonstrated in
clinical studies relief of the pain and associated symptoms of migraine,
including nausea, sensitivity to light and sensitivity to sound. It was
launched in 2010.
Important Safety Information
CAMBIA is a non-steroidal anti-inflammatory drug (NSAID). NSAIDs may
increase your chance of a heart attack or stroke that can lead to death.
This chance is higher with longer use of NSAID medicines and in people
who have heart disease. CAMBIA should never be used right before or
after certain heart surgeries. NSAID medicines can also cause stomach
and intestine problems, such as ulcers and bleeding, which can happen
without warning and may cause death. This risk increases with use of
steroids (corticosteroids), blood thinners (anticoagulants), smoking,
alcohol use, older age, and for those in poor health.
About Nautilus Neurosciences
Nautilus Neurosciences is a neurology-focused specialty pharmaceutical
company committed to providing the healthcare community with medically
relevant products and services that directly benefit those affected by
Depomed, Inc. is a specialty pharmaceutical company that commercializes
products for pain and neurology related disorders. Gralise® (gabapentin)
is a once-daily treatment approved for the management of postherpetic
neuralgia. Zipsor® (diclofenac potassium) Liquid Filled Capsules is a
non-steroidal anti-inflammatory drug indicated for relief of mild to
moderate acute pain in adults. Lazanda® (fentanyl) Nasal Spray is an
intranasal fentanyl drug used to manage breakthrough pain in adults (18
years of age or older) who are already routinely taking other opioid
pain medicines around-the-clock for cancer pain. Gralise and other
products and product candidates are formulated with Depomed's proven,
proprietary Acuform® drug delivery technology. Additional information
about Depomed may be found at www.depomed.com.
Source: Nautilus Neurosciences, Inc.