Lipocine Signs TLANDO Franchise License Deal With Verity Pharma
Lipocine Inc. has signed an exclusive license agreement with Verity Pharmaceuticals to market TLANDO, an FDA-approved testosterone replacement therapy, in the U.S. and potentially in Canada. Lipocine will receive a payment of $2.5 million upon signing, along with a $11 million license fee. Additionally, Lipocine will receive milestone and royalty payments totaling $259 million. The company's stock is currently gaining 0.52 percent in pre-market activity.
Pharmaceutical company, Lipocine Inc. (LPCN) Thursday said that it has entered into an exclusive license agreement with Verity Pharmaceuticals where Verity Pharma will market TLANDO in the U.S. and, if approved, in Canada.
TLANDO is the first and only FDA-approved testosterone replacement therapy option for adult males that does not require dosage measurement.
According to the agreement, Lipocine will receive a payment of $2.5 million on signing the deal along with $11 million license fee. Later, $5 million will be paid by February 1, $2.5 million by January 1, 2025, and $1 million by January 1, 2026.
The company said that additionally it will receive $259 million as milestone payment and royalty payment.
In the pre-market activity, Lipocine's stock is gaining 0.52 percent, to $3.87 on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
Business News
