Company gains exclusive, worldwide rights to certain IP.
Durect received exclusive, worldwide rights to certain of EpiCept’s intellectual property for a transdermal patch containing bupivacaine for the treatment of back pain, under a license agreement. EpiCept will thus receive a $1-million upfront payment and up to an additional $9 million in milestone and royalty payments.
“The signing of this license agreement directly supports our strategy to broaden the application of EpiCept’s patent estate in managing back pain beyond the use of lidocaine,” remarks Jack Talley, EpiCept president and CEO. “This arrangement with Durect advances our strategy to maximize the number of opportunities from which we may earn future royalties on the use of our patents.”
