In connection with the exercise of its option, King has paid Acura an option exercise fee of $3 million. Products utilizing Aversion technology are designed to deter common methods of prescription drug misuse and abuse.
Along with this fourth opioid product candidate, King and Acura are jointly developing three other opioid analgesic product candidates utilizing Acura’s Aversion technology, including Acurox (oxycodone HCl/niacin) tablets. All of these product candidates have been licensed by Acura to King pursuant to an October 2007 license, development and commercialization agreement.
The agreement provides King with an option to license all opioid analgesic products utilizing Aversion technology for development and commercialization in the US, Canada and Mexico.