Avanir and Optinose have separately announced the termination of the license agreement that gave Avanir the North American rights to develop and commercialize Onzetra Xsail intranasal sumatriptan. The license agreement, which was initially announced in 2013, is expected to terminate on March 10, 2019.
Onzetra Xsail was approved by the FDA in January 2016, and Avanir launched the product in the US in May of that year.
According to Optinose, Avanir has paid a total of $70 million under the terms of the agreement. The initial announcement said that Avanir would pay $20 million up front and up to $90 million in milestone payments.
Optinose CEO Peter Miller said, “Optinose intends to evaluate its options with respect to the future of Onzetra Xsail. What is important is that we believe the termination of the license agreement will not have a material effect on the company’s use of cash. Our strategic focus is on building a leading company to serve the unmet needs of ENT and allergy specialists and their patients. As a result, we intend to focus on options for Onzetra Xsail that involve minimal organizational burden for Optinose, which may include identifying and licensing Onzetra Xsail to a new partner.”
Avanir CEO Wa’el Hashad commented, “Avanir’s decision to terminate its license agreement with Optinose for Onzetra Xsail will help us intensify our strategic focus on developing innovative central nervous system solutions to improve the lives of patients and their care communities. From developing treatments for agitation in Alzheimer’s dementia, disinhibition in traumatic brain injury, and the negative symptoms of schizophrenia, our research pipeline is focused on and dedicated to creating a future of hope and promise by addressing unmet needs that arise as a result of central nervous system disorders.”
Read the Optinose press release.
Read the Avanir press release.
