Eagle Pharmaceuticals, Inc. and Flamel Technologies SA (NASDAQ: FLML) today announced that the two companies have entered into a license and development agreement for the development of a Medusa-based hydrogel depot formulation of the small molecule antibiotic, tigecycline. Following the promising results generated in the frame of an initial feasibility study established between Flamel and Eagle Pharmaceuticals, Eagle Pharmaceuticals has decided to exercise its option to pursue its partnership with Flamel. Under the terms of the license and development agreement, Flamel will receive upfront, milestone and double-digit royalty payments. Additionally, Flamel is entitled to receive a percentage of any sub-licensing revenues received by Eagle Pharmaceuticals. All development expenses are the sole responsibility of Eagle Pharmaceuticals.
“We have been extremely pleased with the data we have seen thus far for this program,” said Scott L. Tarriff, President and Chief Executive Officer at Eagle Pharmaceuticals. “We hope to offer reduced costs to hospitals and improved convenience for patients requiring this antibiotic treatment. Tigecycline is currently dosed twice-a-day by slow intravenous infusion to patients that are typically hospitalized. Flamel’s Medusa platform potentially enables switching the route of administration from intravenous to subcutaneous injection through the creation of once-a-day sustained release injectable tigecycline, reducing Cmax and consequently the side effects associated with tigecycline. We anticipate this formulation may allow some patients to leave the hospital earlier and be treated at home.”
Stephen H. Willard, Flamel Technologies’ Chief Executive Officer, stated, “The progress we have achieved with Eagle Pharmaceuticals thus far highlights Medusa’s strength with small molecules. This is in addition to our prior successes with proteins, peptides and other biologics. We believe that our formulations can offer important improvements to patients’ quality of life and demonstrate key advantages of the Medusa platform: excellent local tolerance, with a noticeable reduction of swelling, pain and irritation at the injection site; full activity of the molecule being delivered; and applicability to a wide range of drugs. Eagle Pharmaceuticals has been an excellent partner and we look forward to expanding our work on this program, and potentially collaborating with Eagle on additional programs.”
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