Hana Biosciences Licenses Rights to Proprietary Lingual Spray
from NovaDel Pharma for Chemotherapy-Induced Nausea and Vomiting
SOUTH SAN FRANCISCO, Calif., Oct. 27 /PRNewswire-FirstCall/ -- Hana
Biosciences, Inc. (OTCBB: HNAB), a biopharmaceutical company headquartered in
South San Francisco, California announced today that it has licensed exclusive
U.S. and Canadian rights to a proprietary lingual spray formulation of the
anti-emetic compound ondansetron hydrochloride, the active ingredient of
GlaxoSmithkline's Zofran (R). Ondansetron is currently available in branded
tablets, orally dissolving tablets, and intravenous formulations. Hana acquired
the rights to market the novel lingual spray formulation in the US and Canada
from NovaDel Pharma, Inc. (AMEX:NVD).
Ondansetron hydrochloride belongs to a class of drugs known as 5HT3 antagonists
that are widely used to prevent chemotherapy-induced nausea and vomiting. According to the National Cancer Institute over 500,000 Americans received
chemotherapy in 2003, and the majority of these patients received an antiemetic
such as ondansetron to prevent nausea and vomiting.
The proprietary lingual spray formulation may provide a more convenient and
rapid delivery of ondansetron hydrochloride to prevent nausea and vomiting as
compared to current oral forms. NovaDel was awarded a patent directed to a
lingual spray version of ondansetron in 2004. Annual U.S. sales for Zofran(R),
were approximately $1.0 billion in 2003 and the product patent expires in June
2006.
"Because it will help chemotherapy patients get on with their lives,
ondansetron hydrochloride lingual spray has a promising market potential. Working with NovaDel, we plan to develop the proprietary product rapidly so it
will be available to help the thousands of patients who seek fast relief from
emesis," said Mark J. Ahn, President and CEO, Hana Biosciences.
"Nausea and vomiting associated with cancer chemotherapy continue to be
significant problems for many people, even though marked progress has been
achieved over the past several years. Research into new approaches to further
lessen these difficult side-effects is clearly needed" explains Richard J. Gralla, MD, Co-Chair of the American Society of Clinical Oncology's Antiemetic
Guideline Expert Panel.
Under terms of the agreement, Hana purchased an undisclosed number of NovaDel
common shares and NovaDel received equity in Hana. Hana will pay all
development costs related to the product. Hana receives exclusive rights to
market, sell and distribute NovaDel's ondansetron lingual spray in the US and
Canada. NovaDel will receive milestone development payments and royalties on
sales of the product.
About Hana Biosciences Hana Biosciences, Inc. (OTCBB: HNAB) acquires, develops, and commercializes
innovative products for the treatment of important unmet medical needs in
cancer and immunological diseases. The company is committed to creating value
by building a world-class team, accelerating the development of lead product
candidates, expanding its pipeline by being the alliance partner of choice, and
nurturing a unique company culture. Additional information on Hana Biosciences
can be found at http://www.hanabiosciences.com/.
About NovaDel Pharma Inc.
NovaDel Pharma Inc. is a specialty pharmaceutical company engaged in the
development of novel drug delivery systems for prescription and over-the-
counter drugs. The Company's proprietary lingual spray technology delivery
system offers the patient the potential for (i) fast onset of action; (ii)
improved drug safety by reducing the required drug dosage and reducing side
effects; (iii) improved patient convenience and compliance; and (iv) enhanced
dosage reliability. The Company plans to develop such products independently
and through collaborative arrangements with major pharmaceutical and biotech
companies. To find out more about NovaDel Pharma Inc. (AMEX:NVD), visit our
website at http://www.novadel.com/.
Forward-Looking Statements: This news release contains forward-looking statements. Such statements are
valid only as of today, and we disclaim any obligation to update this
information. These statements are subject to known and unknown risks and
uncertainties that may cause actual future experience and results to differ
materially from the statements made. These statements are based on our current
beliefs and expectations as to such future outcomes. Drug discovery and
development involve a high degree of risk. Factors that might cause such a
material difference include, among others, uncertainties related to the ability
to attract and retain partners for our technologies, the identification of lead
compounds, the successful preclinical development thereof, the completion of
clinical trials, the FDA review process and other governmental regulation, our
pharmaceutical collaborator's ability to successfully develop and commercialize
drug candidates, competition from other pharmaceutical companies, product
pricing and third party reimbursement, and other factors described in our
filings with the Securities and Exchange Commission. DATASOURCE: Hana Biosciences, Inc.
CONTACT: John Iparraguirre of Hana Biosciences, Inc., +1-650-588-6377, ; or Media, Jon Weisberg, +1-435-658-0910, , or Investor, Ritu Baral, +1-212-477-9007 ext. 25, , both for Hana Biosciences, Inc.
Web site: http://www.hanabiosciences.com/ http://www.novadel.com/
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