Impax Labs Licenses ELADUR
On January 3, 2014, Durect Corp. (NASDAQ:DRRX) announced that it had granted an exclusive worldwide license to Impax Labs (NASDAQ:IPXL) for the company's proprietary TRANSDUR transdermal delivery technology and other intellectual property to develop and commercialize ELADUR. ELADUR is an investigational transdermal bupivacaine patch for the treatment of pain associated with post-herpetic neuralgia (PHN). Impax will assume control of ELADUR and fund the development and commercialization program, although the two companies will form a joint management committee to oversee and coordinate certain future research and development activities.
Under the terms of the agreement, Impax has agreed to pay Durect a $2.0 million upfront payment in cash. Durect is also eligible for up...
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