Under the terms of the agreement, Cara received an upfront payment and will be eligible to receive pre-determined clinical and regulatory milestone payments. Cara is also eligible to receive royalties on sales of all marketed products incorporating the compound, as well as an option to co-promote intravenous products in the US.
Cara has successfully completed a phase Ia clinical trial with an intravenous formulation of CR665 and the collaboration will focus on further clinical development of this formulation, as well as the development of additional formulations of this compound incorporating ALZA technologies.
“We believe that Alza’s and Johnson & Johnson’s proven expertise in drug development and marketing in the analgesia and anti-inflammatory sector will provide an optimum path for the worldwide clinical development and commercialization of CR665,” stated Dr Derek Chalmers, Cara’s president and CEO.