Depomed signs licensing agreement with Solvay for pain medication

MENLO PARK, Calif. Specialty pharmaceutical company Depomed has entered a licensing agreement granting rights to the painkiller DM-1796 to Brussels, Belgium-based Solvay Pharmaceuticals in the United States, Canada and Mexico, Depomed announced Thursday.

DN-1796 is in phase 3 trials, being studied as a treatment for the pain condition post-herpetic neuralgia.

Solvay will pay Depomed $25 million, as well as regulatory and sales milestone payments up to $370 million and royalties on sales of 14 to 20 percent.