Indivior Enters an Exclusive Licensing Agreement with Alar Pharmaceuticals
RICHMOND, Va., Oct. 11, 2023 /PRNewswire/ -- Indivior PLC (LSE/Nasdaq: INDV), a leading addiction treatment company, today announced that it has gained exclusive global rights to develop, manufacture, and commercialize Alar Pharmaceuticals Inc.'s ("Alar") portfolio of long-acting injectable formulations that release a prodrug1 of buprenorphine at varying durations, including its lead long-acting injectable ("LAI") candidate, ALA-1000.
- Under the agreement with Alar, Indivior will pay $10 million to secure exclusive global rights (except in China, Hong Kong, Taiwan and Macau) to develop, manufacture and commercialize ALA-1000 and Alar's future buprenorphine-based LAI product candidates.
- The $10 million payment is in addition to an initial $5 million option payment made by Indivior to Alar in Q1.
- Alar is entitled to potential milestone payments if various developmental, regulatory, and commercial goals are achieved.
- Alar has been granted composition of matter and formulation patents for ALA-1000 covering sustained-release buprenorphine formulations with expiry in 2037 and 2039.