BOSTON, Nov. 15, 2016 /PRNewswire/ -- Juniper Pharmaceuticals, Inc. (Nasdaq: JNP) ("Juniper" or the "Company"), a women's health therapeutics company, today announced it has entered into an agreement with its partner, Allergan, Inc. (NYSE: AGN) ("Allergan") to monetize future royalty payments due to Juniper for U.S. sales of Crinone® (progesterone gel). Under the agreement, Juniper will receive a one-time payment of $11 million from Allergan.
"The monetization of our U.S. Crinone royalty stream significantly strengthens our balance sheet and provides non-dilutive cash to support our near-term strategic and operational goals," said Alicia Secor, Juniper's President and Chief Executive Officer. The Company sold U.S. Crinone® rights to Allergan in July 2010; since then, Juniper has received from Allergan a 10% royalty on its U.S. Crinone® sales. Juniper will continue as the exclusive supplier of Crinone® for all markets outside the U.S. and receive revenue from sales to Merck KGaA, Darmstadt, Germany ("Merck KGaA"). Merck KGaA holds the marketing authorization for Crinone® in over 90 countries. Approved in the U.S. in 1997, Crinone® is indicated for supplementation or replacement as part of an Assisted Reproductive Technology (ART) treatment for infertile women with progesterone deficiency. AboutJuniper PharmaceuticalsJuniper Pharmaceuticals, Inc. is focused on developing therapeutics that address unmet medical needs in women's health. The Company is advancing a pipeline of proprietary product candidates that leverage its differentiated intravaginal ring technology and the 505(b)(2) regulatory pathway. Juniper's core operating business includes the Crinone® (progesterone gel) franchise and Juniper Pharma Services, which provides high-end fee-for-service pharmaceutical development and clinical trials manufacturing to clients. Please visit www.juniperpharma.com for more information. Juniper Pharmaceuticals™ is a trademark of Juniper Pharmaceuticals, Inc., in the U.S. and EU.