Acura Pharma In License Deal With Egalet For Immediate Release Oxycodone

(RTTNews) - Acura Pharmaceuticals, Inc. (ACUR) said it has entered into a collaboration and license agreement with Egalet US, Inc. and Egalet Ltd., subsidiaries of Egalet Corp. (EGLT).

The deal will grant Egalet exclusive worldwide rights to commercialize Acura's immediate release oxycodone hydrochloride tablets product that incorporates Acura's patented Aversion (abuse-deterrent) Technology platform.

The licensed product, formerly known as Oxecta, will be marketed by Egalet under the name Oxaydo. Oxaydo is FDA approved in 5mg and 7.5mg strengths for the treatment of acute and chronic moderate to severe pain.

The agreement provides for an upfront cash payment of $5 million to Acura upon execution, with an additional $2.5 million due upon the later of June 30, 2015, and the first commercial sale of the product in the U.S.; but in no event later than January 1, 2016.