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Acusphere, Inc.
Acusphere, Inc. Announces Amended Terms of Cephalon Agreements
July 8th, 2009
Acusphere, Inc. (ACUS.PK) announced a $1 million payment by Cephalon, the cancellation of Cephalon's $15 million Senior Secured Convertible Note ("Note") and the amendment of its March and November 2008 License Agreements with Cephalon for the oncology applications of Acusphere's Hydrophobic Drug Delivery System ("HDDS") technology and AI-525, an intravenous formulation of celecoxib. Under the amended terms of the License Agreements, Cephalon is no longer obligated to make a $15 million milestone payment or any royalty payments upon approval of AI-525 and Cephalon will assume primary responsibility for patent prosecution of licensed technology. As a result of this...
Source: Medical Patent Law Weekly (2009-07-08)
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