Intelliject, Inc. Enters Into Licensing Agreement with sanofi-aventis forU.S./Canada Rights to Novel Epinephrine Auto-injector
Mon, 11/30/2009 - 3:40am
Intelliject, Inc. today announcedan exclusive license with sanofi-aventis U.S. for a novel epinephrineauto-injector, in the U.S. and Canada territory. Under the license,sanofi-aventis U.S. shall be responsible for manufacturing andcommercialization. Intelliject will be responsible for the on-goingdevelopment and for obtaining U.S. regulatory approval and has retainedcertain 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 commercialmilestones of up to $205 million as well as tiered double-digit royalties onsales of any products commercialized under the license. "We are delighted to have sanofi-aventis U.S. as our partner with theirproven track record in and commitment to the allergy/immunology area. Thispartnership marks a key milestone in our quest to make our novel epinephrineauto-injector available to the millions of patients at risk for anaphylaxis.We expect it to create significant long-term value for the company; it marksthe first step on our mission to bring the same innovation and patient-centricsolutions to many different therapy areas. Intelliject's unique model -- drugdevelopment expertise combined with a proprietary, patient-centric deliveryplatform -- has the potential to dramatically redefine the "Standard of Care"in multiple biopharmaceutical categories," said Spencer Williamson, Presidentand CEO of Intelliject.