Xspray Pharma and Bristol Myers Squibb Reach Settlement on Dasynoc™ Patent Litigation, Paving Way for Early Market Launch
Regulatory press release 2023-09-11
Xspray Pharma today announced a resolution to its patent litigation with Bristol Myers Squibb (BMS) concerning its product, Dasynoc™. The settlement clears all pending claims, paving the way for Xspray to introduce Dasynoc™ to the market on September 1, 2024, pending final FDA approval. The launch may occur earlier under certain circumstances. The contested patents and their associated regulatory exclusivities expire on September 28, 2026.
The parties will proceed to file a dismissal with the United States District Court for the District of New Jersey, eliminating the need for any additional litigation on this matter.
“This settlement provides clarity on the launch date of our leading product, Dasynoc™, benefiting the market. It also allows Xspray to shift its focus towards ensuring a successful product debut in 2024. Funds that were previously earmarked for litigation can now be redirected towards advancing Xspray’s future products” commented Per Andersson, CEO Xspray Pharma.