SK Biopharmaceuticals has signed a licensing agreement with Hanmi Pharmacutical for diazepam nasal spray (DZNS) technology.
Under the terms of the agreement, Hanmi acquired regional marketing rights for Korea and China and will make an upfront payment, development and sales milestones, and royalties on sales in return to SK Biopharmaceuticals.
SK Biopharmaceuticals CEO Christopher Gallen said, "Our alliance with Hanmi will deliver an important new medicine to our patients in Korea and China."
Hanmi expects to launch the product in 2013 in the Korean market and in 2015 in the Chinese market.
The commercialized form of nasal spray technology is anticipated to show a faster onset of action and improved safety compared to oral administration.
The US and European marketing rights to the DZNS technology were licensed by Neuronex, in 2010.
