Under the terms of the agreement, Elan will receive from Zogenix an undisclosed upfront payment and future payments upon the achievement of clinical and regulatory milestones for the product. Additionally, Elan will receive royalty payments based on sales of the product upon commercialization. Zogenix will assume responsibility for the clinical development and commercialization of the product in the US, and Elan will manufacture the product for Zogenix.
Shane Cooke, Elan’s CFO and head of its drug technologies business, said: “This agreement reflects the robustness and flexibility of our drug technology platforms and our commitment to developing improved products that address unmet medical needs.”