Impax will control and fund the development program. DURECT will receive $2 million upfront along with potential additional payments of as much as $61 million based on development and commercialization milestones, as well as royalties on product sales.
“We’re pleased to be moving Eladur back into development through this collaboration with Impax,” said James E. Brown, president and chief executive officer of DURECT. “Existing patches used to treat PHN pain are limited by their 12-hour duration, followed by a rest period in which the patient is not to wear a patch for 12 hours. Episodes of break-through pain are frequently reported to occur during rest periods for existing patches. We share a vision with Impax to develop a patch that has the potential to reduce these episodes of break-through pain.”
Michael Nestor, president of Impax, said, “This agreement is another example of our commitment to building a strong brand pipeline through internal R&D and external business development. We are excited to collaborate with DURECT as this product could, if approved, fit well with the capabilities of our neurology focused specialty sales force.”