Strategic partnerships represent an important avenue for MAP Pharmaceuticals to reach a broader set of patients with our therapies, and affect a broader set of drug targets with our technology. Through our existing collaborations and business development efforts, we aim to:
- Maximize the commercial value of our existing neurology pipeline through select clinical development and commercial alliances that broaden patient reach.
- Leverage the broad potential of our proprietary formulation and delivery technologies through research and development collaborations and out-licensing arrangements.
- Build our pipeline and product portfolio in our primary area of focus, neurology/CNS through in-licensing, acquisition and co-development opportunities.
In January 2011, MAP Pharmaceuticals announced a collaboration with Allergan, Inc. to co-promote LEVADEX®, our investigational drug for the potential acute treatment of migraine in adults, to neurologists and pain specialists in the United States and Canada. Specifically, Allergan will leverage its existing U.S. sales force dedicated to headache specialists using BOTOX® for Chronic Migraine, which will be complemented by MAP Pharmaceuticals' field sales force targeting neurologists and pain specialists. MAP Pharmaceuticals retains all rights to commercialize LEVADEX outside the U.S., as well as to primary care physicians within the U.S. and Canada. Under the terms of the agreement, we received an up front cash payment of $60 million and are eligible to receive up to $97 million in additional payments upon meeting certain regulatory milestones associated with the initial indication. If LEVADEX receives FDA approval, the companies will equally share profits from sales of LEVADEX generated from its commercialization to neurologists and pain specialists in the U.S. Click here for the press release.
We are actively evaluating potential partners that would allow us to broaden our patient reach with LEVADEX, through access to geographies outside the U.S. and Canada and to primary care physicians in the U.S. and Canada.
We are exploring options to advance and expand our neurology product pipeline by leveraging our technologies and our extensive scientific expertise in aerosol science and medicine to develop additional neurological product candidates offering unique features and benefits.
Technology Platform/Other Product Technologies
TEMPO® Inhaler Technology
Based on the consistent dosing performance, design and versatility of the TEMPO inhaler platform, we actively seek partnerships with companies that possess proprietary small-molecule, peptide or protein therapeutics that may benefit from faster onset and less invasive administration via pulmonary delivery with the TEMPO inhaler.
Our proprietary drug particle engineering, formulation and aerosol delivery technologies are well suited for the development of product candidates to address large market opportunities in respiratory disease, including pediatric and adult asthma, and COPD. While we do not plan to make further significant direct investment in the product candidates described below, we plan to evaluate partnership opportunities for further development and commercialization of these product candidates.
Nebulized Corticosteroid Particle Technology: We are working to create novel versions of budesonide that are designed to be administered more quickly and to provide efficacy at lower doses than conventional nebulized budesonide. Conventional nebulized budesonide is an inhaled corticosteroid approved by the FDA for treating asthma in children from 12 months up to eight years of age. We are developing novel morphologies of corticosteroid particles which may allow for faster delivery and efficacy at a lower dose.
Combination Particle Technology: We are applying our proprietary particle formulation technologies to deliver the optimal ratio of multiple drugs in a reproducible and consistent manner. We believe we can combine two or more drugs together into a single micron scale inhalable particle at consistent and reproducible ratios, which may improve the delivery profile and stability of the resultant combination therapy. We believe our proprietary technologies in this area have potential broad applicability for a number of combination product candidates in diverse indications via inhalation and other routes of delivery.
Protein/peptide in the TEMPO® inhaler
Stable Protein & Peptide Technology: We are also applying our proprietary technologies to formulate and stabilize biologically active proteins and peptides. We are designing and incorporating our protein formulations without the need for excipients or other additives, to be stored for months at room temperature and to provide multiple doses of medicine delivered accurately without the need for needle injections.