Adeona Pharmaceuticals has entered into a development and commercialisation agreement with Meda AB to develop flupirtine to treat fibromyalgia syndrome.

Adeona has granted Meda an exclusive sublicence for Adeona’s flupirtine patents and will receive up to $17.5m in upfront and milestone payments as well as 7% royalties on net sales.

Sweden-based Meda will arrange the funds for commercialisation and estimates the US market to be $1bn during the possible launch of flupirtine.

Flupirtine is approved and marketed by Meda outside the US to treat pain,

Fibromyalgia affects about 4% of the population worldwide, with an estimated four million patients in the US.

The disease is a chronic and debilitating condition with symptoms such as pain and stiffness throughout the body, severe fatigue and insomnia.