Pacira Pharma signs global licensing deal with Aratana Therapeutics
Pacira Pharmaceuticals, Inc has signed a global licensing agreement with Aratana Therapeutics to develop and commercialise bupivacine liposome injectable suspension for animal health indications.
As per the deal, Aratana will develop and seek approval for the use of the product in veterinary surgery to manage post surgical pain, focusing initially on developing the product for cats, dogs and other companion animals.
The Bupivacine liposome suspension is approved for human use in the U.S. to manage the post surgical pain and is presently marketed by Pacira under the name Exparel.
Exparel is a non-opiod local anesthetic, which was approved by the U.S. Food and Drug Administration in October 2011 for administration into the surgical site to produce postsurgical analgesia.
Steven St. Peter, MD. CEO of Aratana Therapeutics said, “Given the rapid and widespread implementation of EXPAREL by surgeons performing human procedures, we are confident that adoption of this innovative product by veterinary surgeons will be equally impressive. The global companion animal health market remains significantly underserved despite the more than 150 million companion animals in the U.S.- many of whom will undergo surgical procedures. We believe this product fits nicely into our growing portfolio of companion animal therapeutics and will be welcomed by veterinarians committed to providing their patients with the best care available.”
As per the deal, Aratana made a one-time payment to Pacira of $1 million and will pay additional development and commercial milestones totaling up to $42.5 million.
On approval, the product by the FDA, Aratana will pay Pacira, a double-digit royalty on net sales of the product.
Pacira Pharmaceuticals is a well known specialty pharmaceutical company that is focused on clinical and commercial development of new products that meets the needs of acute care practioners and their patients. Aratana Therapeutics is a biopharmaceutical company that delivers high quality new medicines that addresses the significant therapeutic needs for dogs and cats.
