MannKind Corporation said that it has reached the second milestone in its development of Treprostinil Technosphere (“TreT”), a dry powder formulation of treprostinil for inhalation that the company is developing for the treatment of pulmonary arterial hypertension in partnership with United Therapeutics. In April 2019, MannKind announced that United Therapeutics had made a payment of $12.5 million after the company achieved the first milestone.
United Therapeutics paid $45 million up front to MannKind in the licensing and collaboration deal, which was announced in September 2018. The four milestone payments included in the agreement were worth a total of $50 million, and MannKind now says that it would be due $25 million if it achieves the two remaining milestones.
Read the MannKind Corporation press release.
