Pharmosa （6875.TT）has entered into an exclusive license agreement with Liquidia Technologies, Inc. for the development and commercialization of L606 for pulmonary arterial hypertension (PAH), pulmonary hypertension associated with interstitial lung disease (PH-ILD) and other indications in North America. Liquidia Technologies, Inc. (Liquidia) is 100%owned subsidiary of Liquidia Corporation (NASDAQ: LQDA).
Under the terms of the license agreement, Pharmosa will receive $10 million as an up-front payment from Liquidia. In addition, development milestones and sales milestones are eligible to receive up to $215 million. Upon commercialization, Pharmosa will receive royalties of low double digits on net sales in North America from Liquidia. Pharmosa will also receive a $10 million milestone payment for each additional indication (other than PAH and PH-ILD) and for each additional product approved.
Liquidia develops and commercializes treprostinil drugs to treat pulmonary hypertension in the United States. After executing the agreement, Liquidia will be solely responsible for the subsequent clinical research and development as well as commercialization for L606 in North American market in all potential indications, including the two indications PAH and PH-ILD, at its cost. Pharmosa will be responsible for the cGMP product supply of L606 from clinical development to the commercial stage in the future, will sell products to Liquidia with a price agreed upon by both parties, and will support Liquidia in establishing a redundant global supply chain at Liquidia cost to improve the commercial stage supply in the future.
Pharmosa formed a strategic collaboration with Liquidia to create the synergy of Pharmosa R&D development capability and Liquidia's experience on the clinical development and commercialization of pulmonary hypertension drug products, which can improve North America market development of L606, increase the visibility and competitiveness of the Pharmosa products in the global market, then expand Pharmosa overall business plan and increase revenue, which is positive for Pharmosa financial and business development.
Liquidia press release link:https://liquidia.com/news-releases/news-release-details/liquidia-corporation-and-pharmosa-biopharm-announce
Liquidia Corporation is biopharmaceutical company based in the United States and listed on the Nasdaq Stock Exchange (NASDAQ: LQDA). Liquidia is focused on the development and commercialization of products in pulmonary hypertension and other applications of its PRINT® Technology. The company operates through its two wholly owned subsidiaries, Liquidia Technologies, Inc. and Liquidia PAH, LLC. For more information, please visit www.liquidia.com.