Biopharmaceutical company Durect Corporation announced a patent purchase agreement with Indivior UK Limited, an affiliate of Indivior plc, whereby Durect has assigned certain of its US patent rights to Indivior.
“This assignment may provide further intellectual property protection for RBP-7000, Indivior’s investigational once-monthly injectable risperidone product for the treatment of schizophrenia,” said Durect.
“Indivior today announced that it has submitted a New Drug Application (NDA) for RBP-7000 to the U.S. Food and Drug Administration (FDA).”
Durect said that under the agreement, Indivior has made an upfront non-refundable payment to Durect of $12.5 million, with the potential for an additional $5 million based on a regulatory milestone, as well as quarterly earn-out payments that are based on a single digit percentage of US net sales for certain products covered by the patent rights, including RBP-7000.
The patent rights include granted patents extending through at least 2026.
“It is rewarding to know that Indivior’s RBP-7000, if approved, has the potential to help patients with schizophrenia and that our shareholders will have the opportunity to participate in potential future revenues from this product,” said Direct CEO James Brown.