BioDelivery Sciences licenses to Sigma-Tau

Jan. 24, 2005 — BioDelivery Sciences International Inc. (NASDAQ: BDSI) announced it signed a licensing agreement with Sigma-Tau Industrie Farmaceutiche Riunite S.p.A., an Italian pharmaceutical company. The agreement is for the application of the company’s bioral nanocochleate delivery technology to formulate up to four pharmaceutical compounds currently under development by Sigma-Tau Pharma, according to a company release.

The four compounds represent new chemical entities and are targeted for use in the fields of oncology, cardiology and immunology. Sigma-Tau could use BDSI’s bioral nanocochleate drug delivery technology to provide for oral delivery.

Along with the agreement, BioDelivery Sciences announced it entered into a stock purchase agreement with Sigma-Tau Finanziaria S.p.A., a holding company of The Sigma-Tau Group, from which it received an upfront payment of $250,000. The agreement provides for Sigma Tau to purchase up to an additional $1.5 million of shares.

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