DURECT Corporation (NASDAQ:DRRX) reported a patent purchase deal with Indivior UK Limited, an associate of Indivior PLC, whereby DURECT has given certain of its U.S. patent privileges to Indivior. This assignment may offer further IP protection for RBP-7000.
The details
Indivior reported that it has filed a New Drug Application for RBP-7000 to the U.S. FDA. Under the terms of the deal, the company has paid an upfront non-refundable sum of $12.5 million to DURECT, with the prospect for an additional $5 million depending on a regulatory milestone, and quarterly earn-out compensations that are dependent on a single digit percentage of net sales for certain items under the patent rights in the U.S., including RBP-7000. The patent privileges include approved patents extending through at least 2026.
James E. Brown, the CEO and President of DURECT, reported that it is rewarding to see that Indivior’s RBP-7000, if permitted, possesses the potential to help people with schizophrenia and that their shareholders will have the chance to participate in prospective future revenues from this offering.
Indivior is an international specialty pharmaceutical firm with a 20-year legacy of leadership in health policy and patient advocacy while offering education on evidence-based treatment setups that have modernized modern addiction treatment. The term is the fusion of the words “individual” and “endeavor”, and the tagline “Focus on you” clearly highlights the firm’s commitment.
Indivior is committed to transforming addiction from an international human crisis to a treated and recognized chronic disease. Building on its international portfolio of opioid dependence treatments, the company has a robust pipeline of product candidates intended to both resolve other chronic ailments and co-occurring problems of addiction and expand on its heritage in this segment. Headquartered in the U.S. Indivior employs over 1000 individuals internationally and its portfolio of offerings is available in more than 40 countries worldwide.
