DURECT to receive near-term upfront cash payments totaling $6 million, potential additional milestone payments of up to $130 million and tiered low to mid double-digit royalties based on U.S. sales

- Innocoll granted exclusive development and commercialization rights to POSIMIR in the United States

- DURECT to discuss agreement on Conference Call ET DURECT to receive near-term upfront cash payments totaling $6 million, potential additional milestone payments of up to $130 million and tiered low to mid double-digit royalties based on US sales

- Innocoll granted exclusive development and commercialization rights to POSIMIR in the United States

- DURECT to discuss agreement on Conference Call Innocoll Biotherapeutics plc is a global specialty pharmaceutical company headquartered in Athlone, Ireland. Innocoll Biotherapeutics plc and its subsidiaries Innocoll Holdings Limited and Innocoll Pharmaceuticals Limited, are focused on the development and commercialization of pharmaceutical technologies to meet some of today's most important healthcare challenges. Innocoll Biotherapeutics plc is a portfolio business of Gurnet Point Capital. www.innocoll.com

 

About POSIMIR

 

POSIMIR® (bupivacaine solution) for infiltration use is a novel and proprietary product that combines the strength of 660 mg of bupivacaine base with the innovative SABER® platform technology, enabling continuous sustained delivery of a non-opioid local analgesic over 3 days in adults. POSIMIR contains more bupivacaine than any other approved single-dose sustained-release bupivacaine product.  At the end of surgery, POSIMIR is administered into the subacromial space under direct arthroscopic visualization, where it continuously releases bupivacaine for 72 hours or more. POSIMIR® (bupivacaine solution) for infiltration use is indicated in adults for administration into the subacromial space under direct arthroscopic visualization to produce post-surgical analgesia for up to 72 hours following arthroscopic subacromial decompression.Safety and effectiveness have not been established in other surgical procedures, including soft tissue surgical procedures, other orthopedic procedures, including for intra-articular administration, and boney procedures, or when used for neuraxial or peripheral nerve blockade.