Inspire licenses allergy compound from Spain's FAES

USA-based Inspire Pharmaceuticals and FAES Farma of Spain have signed a licensing agreement for the USA and Canadian development and commercialization of bilastinec , a Phase III oral antihistamine compound for the treatment or prevention of allergic rhinitis, a condition affecting approximately 40 million people in the USA.

Under the terms of the agreement, Inspire has acquired exclusive rights to further develop and commercialize oral formulations of bilastine in the USA and Canada, as well as the exclusive right to develop and commercialize the ocular formulation in various markets worldwide.

The agreement provides that Inspire will pay FAES an upfront license fee of $7.0 million and up to an additional $82.0 million, contingent on the achievement of various development, regulatory and sales milestones. Inspire will also pay a royalty of 14%-16% on net sales of the oral formulations of bilastine in the USA and Canada, if approved by regulatory authorities.