Medincell (EPA:MEDCL) has announced the completion of SOLARIS, its Phase 3 trial of olanzapine LAI in patients with schizophrenia, conducted by Teva Pharmaceuticals (NYSE:TEVA).
Medicell reports that it will receive a $5 million development milestone payment from Teva upon the completion of the SOLARIS study.
In a statement, Richard Malamut, CMO of Medincell, said, “Our partner is advancing the clinical development of the olanzapine LAI with plans for regulatory submission in the U.S. This structured approach highlights a strong commitment to addressing a critical unmet need. As a result of Medincell technology, a long-acting injectable formulation of olanzapine may be widely used by patients with schizophrenia.”
