Innovata agrees Adept licensing deal

Nottingham, UK-based pharmaceutical development company Innovata says it has granted US firm Baxter International a global license for Adept (icodextrin 4%), its adhesion reduction solution for use in abdominal, obstetric and gynecologic surgery. The product was previously licensed to Shire Pharmaceuticals in Europe and is currently under US Food and Drug Administration review for marketing approval, with a decision expected in the second-half of 2006.

Under the terms of the deal, Baxter will assume responsibility for the sale and marketing of Adept from January 2006, with Innovata focusing on obtaining US approval for the product. Additionally, Baxter says it intends to file for approval with regulatory bodies in other regions, including Japan. Further financial details of the agreement were not disclosed.