Partner: Avanir ($AVNR)
Technology: Inhaled migraine treatment with inhaler
Amount: $110 million overall
The scoop: OptiNose attracted up to $110 million from Avanir Pharmaceuticals for the Pennsylvania company's inhaled, dry-powder migraine treatment, which makes use of a delivery device with a novel concept.
Avanir signed on to take control of the regulatory, manufacturing, supply chain and commercialization of the inhaler, preliminarily called AVP-825, which uses "bidirectional nasal technology": the inhaler has a mouthpiece and a nosepiece, using the patient's natural breathing for nasal delivery. Blowing into the mouthpiece propels drugs into the nasal cavity.
For this, Avanir offered $20 million up front with another $90 million in milestone and sales target payments, pending approval of the device. In November 2012, the device was shown in a Phase III study to relieve headaches in 68% of patients as quickly as 15 minutes after treatment.
"Avanir is an ideal partner given its proven track record of successfully developing and commercializing neuroscience products," OptiNose CEO Peter Miller said in a statement. "The results from our Phase III clinical study were extremely encouraging and we believe we have a potential treatment that provides pain relief quickly and with few adverse events."
Avanir submitted its NDA for AVP-825 in early February 2014.
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