AQST - Aquestive out licenses anti-seizure therapy to Assertio unit
- Aquestive Therapeutics, Inc. ( NASDAQ: AQST ) announced Thursday a deal to license its anti-seizure therapy Sympazan (clobazam) oral film to Otter Pharmaceuticals, LLC, a unit of Assertio Holdings, Inc. ( NASDAQ: ASRT ).
- Per the terms, Aquestive ( AQST ) is set to receive an upfront payment of $9.0M for selling Sympazan IP rights to the Assertio ( ASRT ) unit.
- Additionally, the company is entitled to milestone payment and royalties worth $6M from Assertio ( ASRT ) if the patent coverage for Sympazan extends into 2039.
- The transaction provides Aquestive ( AQST ) with non-dilutive financing to support the development of its epinephrine sublingual film AQST-109, Chief Executive Daniel Barber remarked.
- “Our commercial expertise will now be able to focus on the potential launch of AQST-109 if approved by the FDA,” he added.
- Read: Promising data on AQST-109 sent AQST shares sharply higher in September.
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Aquestive out licenses anti-seizure therapy to Assertio unit