Elan has announced the sale of its worldwide rights to Myobloc/Neurobloc, a botulinum toxin type B to Solstice Neurosciences, a newly formed company focused on the development, manufacturing, sales and marketing of speciality biopharmaceutical products.
Included in the sale are the related intellectual property, the product inventory, and the manufacturing facility. The associated manufacturing employees will be offered the opportunity to continue their work with Myobloc as employees of Solstice.
Myobloc was developed by Elan and is currently approved in the US, Canada and Europe for the treatment of cervical dystonia to reduce the severity of abnormal head position and neck pain.
Perhaps the most commonly known use of botulinum toxin is as an anti-wrinkle treatment. However, Myobloc has faced stiff competition from established rival Botox.