Dec 1 2009
Intelliject, Inc. today announced an exclusive license with sanofi-aventis U.S. for a novel epinephrine auto-injector, in the U.S. and Canada territory. Under the license, sanofi-aventis U.S. shall be responsible for manufacturing and commercialization. Intelliject will be responsible for the on-going development and for obtaining U.S. regulatory approval and has retained certain co-promotion rights in the territory.
Sanofi-aventis U.S. will pay an initial upfront payment of $25 million. Intelliject will also be eligible to receive development and commercial milestones of up to $205 million as well as tiered double-digit royalties on sales of any products commercialized under the license.
"We are delighted to have sanofi-aventis U.S. as our partner with their proven track record in and commitment to the allergy/immunology area. This partnership marks a key milestone in our quest to make our novel epinephrine auto-injector available to the millions of patients at risk for anaphylaxis. We expect it to create significant long-term value for the company; it marks the first step on our mission to bring the same innovation and patient-centric solutions to many different therapy areas. Intelliject's unique model -- drug development expertise combined with a proprietary, patient-centric delivery platform -- has the potential to dramatically redefine the "Standard of Care" in multiple biopharmaceutical categories," said Spencer Williamson, President and CEO of Intelliject.
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