The development and delivery of prototype formulations met the pre-specified attributes under its agreement to license Acuform technology and data to Boehringer Ingelheim.
Depomed and Boehringer Ingelheim have entered into the agreement in March 2011.
Depomed has licensed to Boehringer worldwide rights to its Acuform gastric retentive drug delivery technology to develop and commercialize certain fixed dose combination products that include extended release metformin and proprietary Boehringer compounds in development for type 2 diabetes.
As per the agreement, Depomed is eligible to receive additional milestone payments based on regulatory filing and approval events and royalties on worldwide net sales of products.