Midatech to acquire Zuplenz from Galena Biopharma

18 December 2015

British firm Midatech Pharma (AIM: MTPH) has entered into an agreement with Galena Biopharma (Nasdaq: GALE) to acquire Zuplenz (ondansetron).

Zuplenz, launched in the USA in July 2015, is an anti-emetic oral soluble film for the prevention of chemotherapy-induced nausea and vomiting (CINV), radiotherapy-induced nausea and vomiting (RINV) and post-operative nausea and vomiting (PONV).

Midatech will pay a total up-front consideration of $3.75 million in cash with further cash payments totaling up to $26 million becoming payable if certain sales milestones are achieved.

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