Depomed and Biovail in AcuForm licensing deal

California, USA-based drugmaker Depomed and Canadian pharmaceutical firm Biovail have established an agreement which grants the latter access to the former's AcuForm drug delivery technology. The Toronto-headquartered company will utilize AcuForm in the development of two of its product candidates.

Under the terms of the accord, Depomed has granted Biovail an option to employ the technology in conjunction with two compounds from an agreed list at any time over the next 18 months. In return, the US firm has received an upfront fee of $500,000, and will be paid additional sums on the excercize of each option, and when the products in question move into Phase III assessment.

In addition, the deal also stipulates that Biovail make royalty payments to Depomed on the successful commercialization of any drugs which are covered by the accord.