Endangered inhaled insulin player MannKind collaborates with mysterious 'entity' on R&D

MannKind ($MNKD) will co-develop several inhaled candidates for conditions such as chronic pain, neurologic diseases and inflammatory disorders with new Seattle-based "entity" Receptor Life Sciences. MannKind stands to earn as much as $102.25 million in milestones, plus royalties on commercialized products. But there are no records of incorporation tied to Receptor Life Sciences, though it does have a (blank) website, leading to some obvious questions. "We are pleased that Receptor Life Sciences has selected our formulation and delivery technology to advance its portfolio of innovative inhaled products," said MannKind CEO Matthew Pfeffer, in a statement. "This collaboration demonstrates the fundamental value of our platform technology while the risk-sharing structure of the transaction allows us to diversify our product opportunities without losing focus on our lead program." The lead program, inhaled insulin med Afrezza, is endangered (as is MannKind, by extension) thanks to poor sales and the withdrawal of marketing partner Sanofi. More from FierceBiotech