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Pacira BioSciences, Inc. (NASDAQ:PCRX), the industry leader in its commitment to deliver innovative, non-opioid pain therapies to transform the lives of patients, today announced an exclusive worldwide license and collaboration agreement with AmacaThera for the development and commercialization of AMT-143, a novel long-acting formulation of the non-opioid analgesic ropivacaine for postsurgical pain control.
"Expanding our pipeline with this novel formulation of ropivacaine builds on our leadership in innovative opioid-sparing pain management," said Frank D. Lee, chief executive officer of Pacira BioSciences. "We believe this franchise-enhancing asset is highly complementary to EXPAREL and underscores our commitment to personalizing and improving the patient journey with a range of options. There remains a significant unmet need for safe and effective opioid-sparing pain control including an easy-to-use longer-acting therapy to serve a broader range of patients and physicians."
"Importantly, this agreement aligns with our 5x30 growth strategy to prioritize clinical stage, derisked opportunities complementary to our call points in pain management. Given its strong commercial synergies with our existing product offering, this asset has the potential to be meaningfully accretive to cash flow and earnings within our 5x30 timeframe," continued Mr. Lee.
About the Agreement
Under the terms of the agreement, Pacira will fund clinical development through to commercial launch and the companies will collaborate on Phase 2 clinical development. AmacaThera will receive an upfront payment of $5 million with the potential for future development- and sales-based milestone payments and a tiered royalty on future net sales.
Posted In: PCRX
