Aradigm has gained national recognition as an emerging specialty pharmaceutical company that sets their primary focus on the development and commercialization of a portfolio of drugs delivered by inhalation for the treatment of severe respiratory diseases. Today, the young company took a major step towards enhancing their future with the announcement they have received a milestone $4 million payment for the first commercial sale of SUMAVEL * DosePro * to Zogenix Inc.
SUMAVEL * DosePro *, a drug that combats the nagging pains of migraine attacks, was approved by the U.S. Food and Drug Administration in July 2009. Migraine is a chronic and common neurovascular disorder characterized by episodic attacks where a large amount of patients experience vomiting and nausea.
While the symptoms of migraine take away from an individual’s quality of life, the effect of migraine is not unique. According to a 2004 report from the National Headache Foundation, approximately 30 million people across the United States suffer from migraines and this disorder attacks both men and women alike.
What is unique about SUMAVEL * DosePro * is that it delivers subcutaneous sumatripan which is a treatment that provides migraine relief in a needle-free delivery system. SUMAVEL is a state-of-the-art product in that it is the first of its kind and provides an incredible amount of relief for its patients.
The $4 million deal with Zogenix will provide capital to Aradigm and continue an already strong and successful relationship between the two companies with Aradigm to receive quarterly royalty payments on all SUMAVEL * DosePro * sales.
When asked about the effect of this milestone to Aradigm, Igor Gonda who serves as the CEO and President of the Company was quoted as saying, “The receipt of this milestone reflects our strategy to raise non-dilutive capital by monetizing non-strategic assets. We are pleased with the first commercial sale of this product utilizing technology developed at Aradigm.”
Currently, Aradigm is trading in the $0.13 range and has continued to produce positive news. The company has an interactive website that displays the benefits of SUMAVEL *DosePro * and a multitude of other aspects of the corporation. To learn more about the company and why they are becoming a recognized name to investors and patients alike, visit the website at: www.SUMAVELDosePro.com.
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