United Therapeutics and MannKind Announce Collaboration for Pulmonary Hypertension Products
September 4, 2018
Exclusive license agreement for Treprostinil Technosphere®; $95 million in upfront and milestone payments
Research agreement for additional products for additional $10 million
SILVER SPRING, Md. and WESTLAKE VILLAGE, Calif., Sept. 04, 2018 (GLOBE NEWSWIRE) -- United Therapeutics Corporation (Nasdaq: UTHR)
and MannKind Corporation (Nasdaq: MNKD) today announced that they have entered into a worldwide exclusive licensing and collaboration
agreement for the development and commercialization of a dry powder formulation of treprostinil, an investigational product currently being evaluated
in clinical trials for the treatment of pulmonary arterial hypertension.
Under the agreement, United Therapeutics will be responsible for global development, regulatory and commercial activities. MannKind will
manufacture clinical supplies and initial commercial supplies of the product at its manufacturing facility in Danbury, Connecticut. Long-term commercial
supplies will be manufactured by United Therapeutics.
Under the terms of the agreement, MannKind Corporation will receive an upfront payment of $45 million and potential milestone payments of up to $50
million, dependent upon the achievement of specific development targets. MannKind will also be entitled to receive low double-digit royalties on net
sales of the product. In addition, MannKind granted United Therapeutics an option to expand the license to include other active ingredients for the
treatment of pulmonary hypertension. Each optioned product would be subject to the payment to MannKind of up to $40 million in additional option
exercise and development milestone payments as well as a low double-digit royalty on net sales of any such product.
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