Depomed reaches milestone under research collaboration with Ironwood

The milestone follows the development and delivery of a prototype formulation of an Ironwood candidate meeting pre-specified attributes under the agreement signed to license Acuform technology signed in July 2011.

As per the agreement, Depomed licensed rights to its Acuform gastric retentive drug delivery technology for an Ironwood development program focused on gastrointestinal disorders.

Depomed received upfront license fee on signing the agreement and is entitled to receive additional payments pending achievement of certain development and regulatory milestones, including royalties on product sales.