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Aralez Pharmaceuticals Inc.
Drug Names(s): dihydroergotamine mesylate, DHE
Description: MT 300 is an injectable formulation of dihydroergotamine mesylate. It interacts with several neurotransmitter receptors, including serotonin, alpha-adrenergic, and dopamine receptors. Its inhibition of serotonin receptors is thought to be responsible for the relief of migraine headaches.
Deal Structure: In September 2003, Pozen signed an agreement with Xcel for the further development and commercialization of MT 300. Under the terms of the agreement, Xcel will have exclusive rights in the United States to commercialize MT 300 subject to certain minimum commercialization obligations. Pursuant to the terms of the agreement, Xcel paid an upfront fee of $2.0 million.
In October 2001, Pozen entered into a Commercial Supply Agreement with Lek Pharmaceuticals Inc. (Lek), a subsidiary of Novartis Pharma AG, under which Lek agreed to provide DHE, which Pozen formulates as MT 300.
In February 2005, Valeant Pharmaceuticals International announced that it signed a definitive agreement to acquire Xcel Pharmaceuticals.
Partners: Lek Pharmaceuticals Inc. Valeant Pharmaceuticals International, Inc.
MT 300 News
Pink Sheet Pozen and Xcel MT 300 “not approvable”
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