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news.Depomed has given license to its Acuform gastric retentive drug delivery technology to Boehringer Ingelheim for the development and commercialization of certain fixed combination products which include extended release metformin and proprietary Boehringer Ingelheim compounds in development for type 2 diabetes.
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As per the terms of the agreement, Boehringer Ingelheim has taken responsibility to develop and commercialize the products and it will pay a sum of $12.5m license fee to Depomed.
Aditionally, Boehringer Ingelheim will also make an upfront payment of $10m, including $2.5m upon delivery of experimental batches of prototype formulations to Depomed.
Depomed is also eligible to receive additional milestone payments based on regulatory filing and approval events, and royalties on worldwide net sales of product.
Further details of the agreement were not disclosed.
Depomed Business Development senior vice president Thadd Vargas said they are pleased to contribute the value of Glumetza’s dossier and their metformin extended release technology to Boehringer Ingelheim’s type 2 diabetes compound(s).