Galena secures U.S. rights to serotonin blocker

• Galena Biopharma (GALE) enters into a definitive agreement to license the exclusive U.S. commercial rights to Zuplenz (ondansetron) oral soluble film from manufacturer MonoSol Rx LLC. The extension of rights is contingent on the court approval of the settlement between MonoSol and a former licensee of Zuplenz.
• Ondansetron is a serotonin 5-HT3 receptor antagonist indicated for the prevention of nausea and vomiting induced by chemotherapy, radiotherapy and post-surgery. Zuplenz dissolves on the tongue in less than 30 seconds by virtue of MonoSol's PharmFilm technology. This eliminates the need to swallow a pill.
• The U.S. market for oral 5-HT3 inhibitors is more than $1B according to research firm Wolters Kluwer.