Grifols is paying $25 million upfront, plus up to $25 million in milestone payments to acquire a worldwide license for Aradigm’s Pulmaquin and Lipoquin inhaled ciprofloxacin formulations. Grifols will also pay tiered royalties on worldwide sales of products using the formulations and will be responsible for up to $65 million in expenses for Phase 3 development and clinical trials of both products for the treatment of non-cystic fibrosis bronchiectasis. The FDA granted orphan drug designation for the bronchiectasis indication in 2011.
As part of the agreement, Aradigm will grant Grifols an option to license the AERx drug delivery platform for other uses, and Grifols will get 35% of Aradigm’s common stock at $0.124 per share, a total of about $26 million.
Aradigm President and CEO Igor Gonda commented, “Grifols is a great fit for us with their global reach of respiratory physicians treating a number of conditions that could benefit from Pulmaquin.”
Grifols President Global Commercial Ramon Riera added, “Pulmaquin will complement Grifols existing Prolastin-C business. There is significant overlap between bronchiectasis and Alpha1 physicians and patients.“
Read the Aradigm and Grifols press release.
