Aquestive Therapeutics Inc (NASDAQ: AQST) entered a license and supply agreement with Pharmanovia for Libervant (diazepam) Buccal Film across the European Union, the U.K., Switzerland, and Norway, as well as countries in the Middle East and North Africa (MENA).
Libervant is used to treat prolonged or acute, convulsive seizures of all ages.
"Libervant has the distinct advantage of being readily administered when needed without regard to food, which is essential to patients as rapid and extensive drug absorption is critical in a rescue situation," said Daniel Barber, CEO of Aquestive.
"As we continue to engage with the FDA for Libervant market access in the U.S., we are thrilled to join forces with a company that shares our vision," Barber added.
Under the agreement, Aquestive will serve as the exclusive sole manufacturer and supplier for the product, and Pharmanovia will be responsible for all regulatory and commercialization activities.
Aquestive will receive an undisclosed upfront payment and, if approved, milestone payments and double-digit royalties on net sales of the diazepam buccal film in the licensed territories.
Price Action: AQST shares are down 1.75% at $1.12 on the last check Wednesday.
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