Immune Pharmaceuticals, Inc. (NASDAQ: IMNP) announced today that it has amended its 2003 Licensing Agreement with Endo Pharmaceuticals Inc., a subsidiary of Endo International plc. As a result, Immune will transfer to Endo its previously licensed patents related to the use of topical lidocaine in acute and chronic back pain and Endo will grant Immune a royalty-free, non-exclusive, fully transferable license to those patents. Endo will pay undisclosed milestones to Immune if Endo receives a back pain indication for a lidocaine-based product, as per the original 2003 Licensing Agreement.
Immune will re-gain full exclusive rights to develop, commercialize and license LidoPain®, a high-dose lidocaine patch for the treatment of acute pain. LidoPain® is currently in Phase II clinical development.
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