Investor Conference Call Scheduled for December 28, 2007 at 8:30 a.m
PALO ALTO, Calif., Dec. 27 /PRNewswire-FirstCall/ -- Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) today announced that it has initiated a license and development partnership with Endo Pharmaceuticals Holdings Inc. (Nasdaq: ENDP) for AZ-003 (Staccato(R) fentanyl) and the fentanyl class of molecules for North America. Currently in Phase 1 clinical development, AZ-003 is a hand-held drug device that uses Alexza's proprietary Staccato system inhalation technology to deliver fentanyl for the treatment of breakthrough pain in cancer and non-cancer patients.
"We have consistently reiterated how important it is for Alexza to develop the possible tamper and diversion-resistant attributes of our AZ-003 product with an established market leader in pain management," said Thomas B King, President and CEO of Alexza. "We believe Endo is an ideal partner for AZ-003. We look forward to working together with them to develop this important new technology and product for the opioid markets."
Under the terms of the agreement, Endo will pay Alexza an upfront fee
of $10 million, with additional payments of up to $40 million upon
achievement of predetermined regulatory and clinical milestones. Endo will
also pay undisclosed royalties to Alexza on net sales of the product, from
which Alexza will pay for the cost of goods for the manufacture of
commercial product. In the partnership, Alexza has primary respons
|SOURCE Alexza Pharmaceuticals, Inc.|
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