A specialty pharmaceutical company focused on the late-stage development, commercialization and marketing of over-the-counter and prescription pharmaceuticals for the treatment of respiratory disorders- Adams Respiratory Therapeutics, Inc. (Nasdaq: ARXT) - has entered into a license and collaboration agreement with MonoSol Rx, LLC.
The terms of agreement include:
- Adams receives an exclusive, royalty-bearing, non-transferable license from MonoSol Rx to use its proprietary thin-film drug delivery technology to develop and market two or more respiratory products in North America
- Adams also gains rights of first refusal to develop a limited number of additional prescription respiratory products
- (under a separate product supply agreement) MonoSol Rx has agreed to manufacture and supply finished products that result from the collaboration
- MonoSol Rx is responsible for completing the product development work and will be eligible to receive payments in exchange for completing certain pre- defined development milestones
- Adams will be responsible for performing all aspects of clinical development, regulatory submission and commercial operations
The financial terms of the agreement were not disclosed.
MonoSol Rx, LLC is a privately-held, leading drug delivery company that uses edible film as a fast-dissolve oral drug delivery platform to develop prescription and over-the-counter (OTC) products.
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