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news.Acusphere has signed an agreement to license the intellectual property rights to its Hydrophobic Drug Delivery System for oncology applications, along with the rights to AI-850, its formulation of paclitaxel, to Cephalon, in exchange for a cash payment of $10 million.
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Sherri Oberg, president and CEO of Acusphere, said: “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. This transaction confirms the potential for our technology in the oncology arena, which is one of many potential applications for our Hydrophobic Drug Delivery System technology.”