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Aquestive Therapeutics Licenses Sympazan® (clobazam) Oral Film to Assertio Holdings, Inc.
WARREN, N.J., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company advancing current standards of care to
About this update from Aquestive Therapeutics, Inc.
[{"type":"text","content":"WARREN, N.J., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company advancing current standards of care to solve patients’ problems through simplifying complex delivery methods, announced today a transaction to license Sympazan® (clobazam) oral film to Otter Pharmaceuticals, LLC, a subsidiary of Assertio Holdings, Inc. (“Assertio”) (NASDAQ: ASRT), a specialty pharmaceutical company offering differentiated products to patients. Sympazan (clobazam) oral film is for the adjunctive treatment of seizures associated with Lennox‐Gastaut Syndrome (LGS) in patients aged two years of age or older. “The completion of this transaction marks the beginning of a new chapter for Aquestive, and we are thrilled that Assertio recognizes Sympazan’s significant growth opportunities,” remarked Daniel Barber, Chief Executive Officer of Aquestive. “This agreement for Sympazan is another example of a non-dilutive financing option that allows us to continue focusing our efforts on the development of AQST-109 (epinephrine sublingual film), to meet the needs of patients who need an alternative emergency treatment of severe allergic reactions, including anaphylaxis. Our commercial expertise will now be able to focus on the potential launch of AQST-109, if approved by the FDA.” Under the terms of the definitive agreement, Aquestive exclusively licensed the product’s intellectual property to Assertio for an upfront payment of $9.0 million. Aquestive also entered into a long-term supply agreement with Assertio for Sympazan. Under the terms of the agreement, Aquestive will continue to prosecute an existing patent application that could extend patent coverage for Sympazan to as late as 2039. Upon the patent allowance for Sympazan, Aquestive will receive a $6.0 million milestone payment and royalties from Assertio. About Aquestive Aquestive Therapeutics, Inc. (NASDAQ: AQST) is a pharmaceutical company advancing current standards of care to solve patients’ problems through simplifying complex delivery methods. We are developing orally administered products to deliver complex molecules, providing novel alternatives to invasive and inconvenient standard of care therapies. Aquestive has five commercialized products on the U.S. market, four licensed products and one stand-alone proprietary product to date, Sympazan® (c...