Grifols, S.A. and Aradigm Corp. have completed the transaction involving the exclusive, worldwide license for Aradigm’s formulations of inhaled ciprofloxacin (Pulmaquin and Lipoquin) for the treatment of severe respiratory diseases, including non-cystic fibrosis bronchiectasis (BE). Aradigm has completed Phase IIb trials in BE patients with Pulmaquin and Lipoquin and has been granted orphan drug designation for BE in the U.S. The companies will advance Aradigm’s inhaled ciprofloxacin formulations into Phase III trials in BE.
Grifols will be responsible for further development and clinical expenses to a maximum of $65 million for the BE indication and Aradigm is entitled to receive payments of as much as $25 million based on development milestones, as well as royalties on worldwide sales. Grifols is responsible for all commercialization activities. In conjunction with the licensing agreement, Grifols acquired 35% of Aradigm’s stock for a total investment of approximately $26 million.
“The completion of this transaction is a major milestone for Aradigm. We look forward to working with Grifols to finalize the Pulmaquin global development by completing the Phase III program and filing a New Drug Application that could result in approval of a much needed therapy for bronchiectasis patients,” said Igor Gonda, president and chief executive officer, Aradigm Corp.
Grifols, Aradigm Complete Pulmaquin Licensing Agreement
Published August 28, 2013
blog comments powered by Disqus