Medivir and Ferrer have entered a licence and distribution agreement for the commercialisation of Alexza Pharmaceuticals' Adasuve (Staccato loxapine) in the Nordic region. In Europe, Adasuve is approved for the treatment of mild-to-moderate agitation of patients with schizophrenia or bipolar disease.
Adasuve combines the proprietary Staccato system with loxapine, an antipsychotic drug. The Staccato system is a hand-held inhaler that delivers a drug aerosol to the deep lung resulting in intravenous-like pharmacokinetics and rapid systemic effects. Adasuve begins to control patients' agitation in less than ten minutes, intercepting the onset of agitation in a non-invasive manner.
Ferrer is Alexza's commercial partner for Adasuve in Europe, Latin America, Russia and the Commonwealth of Independent States countries. Under the terms of the newly-announced agreement, Ferrer grants to Medivir the exclusive rights to promote, market, sell and distribute Adasuve in the Nordic region, including Denmark, Finland, Norway, Iceland and Sweden. In return, Ferrer will receive an up-front payment upon signature, and milestone payments conditional upon cumulative sales performance.