A.P. Pharma (APPA) Announces License and Development Agreement with Merial
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A.P. Pharma (Nasdaq: APPA) has entered into a license and development agreement with Merial, a world leading animal health company, for a long-acting pain management product . The product, which contains an undisclosed analgesic, uses A.P. Pharma's Biochronomer(TM) technology to provide sustained drug levels and pain relief over several days following a single administration. The product is currently undergoing animal efficacy studies.
The license agreement announced today follows a successful research collaboration between the companies. Under the terms of the new agreement, A.P. Pharma grants Merial a worldwide, exclusive license to the product for use in treating companion animals (cats and dogs). A.P. Pharma will receive an undisclosed upfront payment, development funding and potential future milestones that are in addition to royalties following commercialization.
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