United Therapeutics Corporation, which develops therapies for pulmonary arterial hypertension (PAH), and Corsair Pharma Inc said they entered into an exclusive license agreement for Corsair’s portfolio of patents covering treprostinil prodrugs as well as an equity investment by United Therapeutics in Corsair.
“Under the terms of the license agreement, United Therapeutics has been granted an exclusive license to Corsair’s intellectual property for the development of treprostinil prodrug formulations,” said the companies in a press release.
“Corsair will continue development of transdermal treprostinil prodrug formulations for PAH.
“Corsair received upfront consideration, and is entitled to royalty payments based on the commercialization of treprostinil prodrug products by United Therapeutics that are covered by Corsair’s patents.”
United Therapeutics also made a minority equity investment in Corsair that includes an option to acquire the remaining outstanding shares of Corsair.
David Collier, CEO of Corsair Pharma and Velocity Pharmaceutical Development, said: “We are excited to be working with United Therapeutics to develop prodrugs of treprostinil.
“Both of our companies are committed to developing therapies that meaningfully improve the lives of patients suffering from PAH.”