Ondansetron is a therapeutic used in the prevention of nausea and vomiting induced by chemotherapy, radiotherapy and operations.

The thin film, which is around the size of a postage stamp, rapidly dissolves on the tongue releasing the therapeutic and is regarded as particularly suitable for delivery of ondansetron.

Mark Schobel, president and CEO of MonoSol Rx, said: "Thin film is particularly well suited for this indication because patients who are prescribed ondansetron often have difficulty swallowing due to extreme nausea caused by chemotherapy and radiation treatments.

"Following approval, ondansetron would be one of the first prescription drugs to come to market utilizing thin film drug delivery technology."

Using this delivery method the patient does not need water to consume the therapeutic. The film is capable of carrying a broad range of doses, from very low up to 80mg.

MonoSol believes that its thin film technology offers drug companies a way of extending the life span of their products in the face of generic competition. It is said to be able to carry a wide range of active pharmaceutical ingredients, in a more "stable and durable" manner than conventional delivery methods.

Owing to the speed at which it dissolves it "may result in reduced side effects and improved safety". At present the technology has been used only in breath-freshening strips and over-the-counter medicines.

However, both companies involved in this latest licensing deal believe that ondansetron can quickly be brought to market.

A pilot bio-equivalency study was recently completed and on the back of this MonoSol is to initiate trials aimed at facilitating an application for drug approval in the US. If successful, Strativa believe that a new drug application (NDA) could be filed within the next 12 months.

MonoSol Rx is due to receive milestone payments prior to the commercial launch of the product and sales-based revenues that could amount to $23.5m. In addition, further payments could be received based on the purchase of product supply and royalties on net sales.

The market for US anti-emetic therapies (those which prevent nausea) was worth $1.6bn last year, with 2.7m prescriptions being written for ondansetron alone.