Durect Corporation will, alongside Sandoz, develop and commercialise a non-opioid pain relief in the US.
Durect’s Posimer is an investigational locally-acting, non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery.
In the US, Sandoz has a dedicated hospital sales and marketing organization, with expertise and relationships, which will be employed to deliver POSIMIR to the market.
James E. Brown, president and CEO of Durect Corporation, said: “We believe that Posimer has the potential to become a cornerstone of multi-modal post-operative pain management.
“As a non-opioid local analgesic, we believe Posimer may be an important contributor to the on-going efforts to reduce the use of opioid-based medications following surgery.”
Sandoz will make an upfront payment to Durect of $20 million, with the potential for up to an additional $43 million in development and regulatory milestones, up to an additional $230 million in sales based milestones, as well as a tiered double digit royalty on product sales in the United States.
Durect will remain responsible for the completion of the ongoing Persist Phase 3 clinical trial for Posimer as well as FDA interactions through approval.
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