NovaDel Pharma has received a $500,000 milestone payment in connection with the license and distribution agreement with Mist Acquisition.
NitroMist is NovaDel’s oral spray formulation of nitroglycerin, which has been approved by the FDA for acute relief of an attack of angina pectoris, or acute prophylaxis of angina pectoris, due to coronary artery disease.
The agreement provides Mist Acquisition with a license to manufacture and commercialise NitroMist in North America.
NovaDel claims that its NitroMist is indicated for the treatment of angina and enables rapid delivery of drugs into the bloodstream, which results in faster onset of action and potential patient benefits in compliance, convenience and safety.