SK biopharmaceuticals has signed a licensing agreement with Hanmi Pharmaceutical for SK's diazepam nasal spray covering marketing rights for China and South Korea. SK will receive undisclosed upfront, milestone and royalty payments from the deal. The product is expected to be on the market in South Korea in 2013 and in China in 2015. Hanmi expects that accumulated revenue for the first ten years will be over US$200 million.
The diazepam nasal spray is claimed to be the first in its kind for acute repetitive seizure. Current main line of therapy for the acute repetitive seizure is rectal injection, which are limiting to use in public places. SK's nasal spray is expected to provide convenience for care-givers for controlling seizures regardless of the situation. The product showed much faster delivery of the diazepam into the circulatory system and thus is expected to be advantageous for controlling the seizures that requires quick treatment.
The US and EU marketing rights of this technology was licensed out to Neuronex (Acorda Therapeutics) in 2010 and Acorda has completed studies required for an NDA filing that is expected to be filed shortly.