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Pain Therapeutics, Inc.
Drug Names(s): PTI-202
Description: PTI-202 is an abuse-resistant, long-acting opioid painkiller.
Deal Structure: In November 2005, Pain Therapeutics and King Pharmaceuticals announced a broad strategic alliance to develop and commercialize four proprietary lead drug candidates. Under the terms of the agreement, King will make an upfront payment of $150 million in cash to Pain Therapeutics. Pain Therapeutics could alsoreceive additional milestone payments of up to $150 million in cash based on the successful clinical and regulatory development of Remoxy and other abuse-resistant opioid products. King is responsible for all R&D expenses relatedto this alliance.
Pain Therapeutics and King will form a joint operating committee to oversee drug development and commercialization strategies for the alliance.Pain Therapeutics will retain sole control of drug development activities through Phase II. The companies will jointly manage Phase III and New Drug Application submissions in the U.S. King will have this responsibility outside the U.S. Upon regulatory approval, King will assume sole control...See full deal structure in Biomedtracker
Partners: Pfizer Inc. DURECT Corporation
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