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Pfizer Inc.

Drug Names(s): PMI-150, Intranasal ketamine

Description: PMI-150 is an intranasal formulation of ketamine, a rapid acting, non-barbiturate general anesthetic with profound analgesic properties. Ketamine is an N-methyl-D-aspartate (NMDA) receptor antagonist, and has been reported to have effects on other receptors as well (opioid, monoaminergic, muscarinic, and voltage sensitive Ca ion channels, but not GABA receptors). At lower doses than that approved for use as an anesthetic, ketamine has been reported in the medical literature to be an effective medication for the treatment of postoperative pain, neuropathic pain and pain during emergency medical procedures.

Deal Structure: In September 2000, IDDS (now Javelin) assumed a license agreement with Dr. Stuart Weg upon the closing of its merger with Pain Management, Inc., another specialty pharmaceutical company. The license grants IDDS the exclusive, worldwide rights for the intellectual property surrounding intranasal ketamine. The term of the license agreement remains in effect until the last to expire of the patent rights. Under the license agreement with Dr. Weg, IDDS is obligated to make aggregate milestone payments of approximately $1.6 million to Dr. Weg, Herbert Brotspies and Calgar & Associates, as well as a royalty on the sales, net of various customary cash discounts, attributable to intranasal ketamine.

Myriad and Javelin
In December 2009, Myriad Pharmaceuticals announced the company entered into a definitive agreement to acquire Javelin Pharmaceuticals.

Under the terms of the definitive merger agreement, Javelin shareholders will receive 0.282 shares of Myriad stock for...See full deal structure in Biomedtracker

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