Cephalon is paying out $10 million to acquire the IP rights to Acusphere's Hydrophobic Drug Delivery System for oncology applications along with the rights to AI-850, the formulation of paclitaxel.
"We are very pleased with the terms of this transaction, which establishes a strong value for part of our technology platform that is at an early stage of development," said Sherri C. Oberg, president and CEO of Acusphere. "We are confident that Cephalon is the right partner for one application of this important technology, given its strong focus on oncology. Just six months ago, we announced that AI-850 was a potential bio-equivalent to the one of the fast-growing anti-cancer drugs, Abraxane. This transaction confirms the potential for our technology in the oncology arena, which is one of many potential applications for our HDDS technology."
- check out the press release for more info