Nautilus Neurosciences, Inc. Announces the Sale of CAMBIA® (Diclofenac
Potassium for Oral Solution) to Depomed, Inc. for Total Consideration of Up
to $53.7 Million
BEDMINSTER, N.J. -- December 17, 2013
Nautilus Neurosciences, Inc. has completed a transaction for the sale of the
U.S. and Canadian rights to CAMBIA® (diclofenac potassium for oral solution)
to Depomed, Inc. (NASDAQ: DEPO). CAMBIA is a non-steroidal anti-inflammatory
drug (NSAID) indicated for acute treatment of migraine attacks with or without
aura in adults ages 18 years of age or older.
Under the terms of the agreement, Depomed will acquire the rights to CAMBIA in
return for total consideration of up to $53.7 million in cash of which $48.7
million is upfront and $5.0 million is payable upon reaching certain
milestones based on future annual net sales. Cambia is licensed to Tribute
Pharmaceuticals in Canada.
“We congratulate Depomed on the acquisition of Cambia. Cambia has provided
relief to thousands of migraine sufferers in the United States since Nautilus
launched the product in 2010,”said William Maichle, Chief Executive Officer
of Nautilus Neurosciences. “We are confident that Depomed will continue to
provide the same outstanding customer service to Healthcare Providers and
patients that the Nautilus Neurosciences team has provided and wish them luck
in the promotion of Cambia.”
Stifel acted as the exclusive financial advisor to Nautilus Neurosciences in
CAMBIA is a powdered formulation of diclofenac potassium that is dissolved in
liquid. It has a rapid onset and has demonstrated in clinical studies relief
of the pain and associated symptoms of migraine, including nausea, sensitivity
to light and sensitivity to sound. It was launched in 2010.
Important Safety Information
CAMBIA is a non-steroidal anti-inflammatory drug (NSAID). NSAIDs may increase
your chance of a heart attack or stroke that can lead to death. This chance is
higher with longer use of NSAID medicines and in people who have heart
disease. CAMBIA should never be used right before or after certain heart
surgeries. NSAID medicines can also cause stomach and intestine problems, such
as ulcers and bleeding, which can happen without warning and may cause death.
This risk increases with use of steroids (corticosteroids), blood thinners
(anticoagulants), smoking, alcohol use, older age, and for those in poor
About Nautilus Neurosciences
Nautilus Neurosciences is a neurology-focused specialty pharmaceutical company
committed to providing the healthcare community with medically relevant
products and services that directly benefit those affected by neurologic
Depomed, Inc. is a specialty pharmaceutical company that commercializes
products for pain and neurology related disorders. Gralise® (gabapentin) is a
once-daily treatment approved for the management of postherpetic neuralgia.
Zipsor® (diclofenac potassium) Liquid Filled Capsules is a non-steroidal
anti-inflammatory drug indicated for relief of mild to moderate acute pain in
adults. Lazanda® (fentanyl) Nasal Spray is an intranasal fentanyl drug used to
manage breakthrough pain in adults (18 years of age or older) who are already
routinely taking other opioid pain medicines around-the-clock for cancer pain.
Gralise and other products and product candidates are formulated with
Depomed's proven, proprietary Acuform® drug delivery technology. Additional
information about Depomed may be found at www.depomed.com.
Nautilus Neurosciences, Inc.
William Maichle, 908-393-7800
Press spacebar to pause and continue. Press esc to stop.