- TLC BioSciences has entered a commercialization agreement with Endo International plc (NASDAQ:ENDP) for the U.S. rights of TLC599, a proprietary BioSeizer sustained-release injectable in Phase 3 development for osteoarthritis pain.
- Under the agreement signed with Endo's subsidiary Endo Ventures Limited (EVL), TLC will primarily be responsible for developing the product, and EVL for obtaining regulatory approval and commercialization of the product in the U.S.
- TLC will receive an upfront payment of $30 million and be eligible to receive up to an additional milestone-based payment of $110 million.
- TLC will be eligible to receive payments based on the achievement of certain commercial milestones and royalties based on the product's net sales in the U.S.
- Additionally, TLC will be eligible to receive certain milestone payments for potential future indications.
- "We are pleased to be adding another TLC product to Endo's portfolio," said Blaise Coleman, President & CEO at Endo. "We see tremendous opportunity in TLC599 to potentially address an unmet medical need in patients with osteoarthritis arthritis knee pain. If approved, we expect to launch this differentiated branded product in 2025."
- Price Action: ENDP shares are down 4.27% at $0.32 during the market session on the last check Monday.
