MannKind Corporation has announced an agreement to develop “multiple inhaled therapeutic products” with a company called Receptor Life Sciences, described as a “newly formed entity.” MannKind says that Receptor will license MannKind’s manufacturing technology and will be responsible for manufacturing and commercialization of the products as well as all development costs. MannKind says that the deal includes milestone payments of up to $102.25 million.
According to the announcement, “Receptor Life Sciences, Inc. is a pharmaceutical development company based in Seattle, Washington. Receptor is quietly laying the foundation for groundbreaking new products in the specialty pharmaceutical market.” A recently created web site for the company provides no information about its ownership or management, and a search for Receptor in the Washington Secretary of State corporations database returns no results as of January 21, 2016.
Newly appointed MannKind CEO Matthew Pfeffer said, “We are pleased that Receptor Life Sciences has selected our formulation and delivery technology to advance its portfolio of innovative inhaled products. This collaboration demonstrates the fundamental value of our platform technology while the risk-sharing structure of the transaction allows us to diversify our product opportunities without losing focus on our lead program.”
Pfeffer later responded to skepticism about Receptor LIfe Sciences with several tweets:
$MNKD CEO Matt Pfeffer, “Receptor Life Sciences is a completely independent entity from MannKind Corporation." #technosphere #MNKD2
— MannKind (@MannKindCorp) January 21, 2016
$MNKD CEO Matt Pfeffer, "Some partner companies want future product development plans kept under the radar, for competitive reasons." #MNKD2
— MannKind (@MannKindCorp) January 21, 2016
Read the MannKind press release.
