Therakind is pleased to report that it has sold the majority of its interest in Buccolam® (a midazolam hydrochloride oromucosal solution) a product designed for the rapid treatment of children suffering from acute epileptic seizures.
Buccolam® is placed in the space between the gums and the cheek to effect absorption directly into the bloodstream, enabling more rapid treatment of the patient. The product is already being used routinely in the treatment of acute seizures in children both in the UK and Europe but in an unlicensed form.
Therakind received a significant initial upfront payment and a further milestone payment on the granting of marketing approval for the product. Therakind will also receive royalties on sales of the product in the EU.
Dr Susan Conroy, CEO of Therakind, said: “This is a significant milestone for Therakind providing access to marketing capability across Europe, and complementing our own regulatory and clinical expertise.