Inspire, FAES developing new allergy drug


allergyDURHAM, N.C., Nov. 1 (UPI) -- Inspire and FAES Farma said Wednesday they have signed a licensing deal on a new oral antihistamine for the U.S. and Canada markets.

The compound at the center of the development deal is bilastine, currently in phase 3 studies for the prevention of allergic rhinitis.

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

The pact also provides Inspire will pay FAES an upfront license fee of $7 million and up to $82 million in milestone payments, as well as 14 percent to 16 percent royalties on net U.S. and Canadian sales of bilastine.

The companies estimated the U.S. allergic rhinitis market size at about 40 million people.

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