Zosano Pharma and Eli Lilly have entered into an exclusive agreement to develop ZP-PTH, Zosano's proprietary formulation of parathyroid hormone 1-34 (PTH) using Zosano's microneedle patch system for the treatment of osteoporosis patients, globally.
Zosano has completed a Phase 2 study of ZP-PTH for the treatment of severe osteoporosis, and plans to conduct Phase 3 development.
Zosano has granted Lilly an exclusive worldwide license to commercialize ZP-PTH.
Lilly will make an equity investment of up to $15 million in Zosano concurrent with the consummation of Zosano's initial public offering of equity securities, and additionally make payments upon achievement of certain regulatory and sales milestones totaling up to $300 million for regulatory approvals and up to $125 million for sales milestones.
Zosano is also eligible to receive double-digit royalties on sales of products in major markets and will receive reimbursement of all manufacturing costs.
Pending successful clinical testing outcomes and regulatory approval of ZP-PTH, Lilly will be responsible for commercialization of the product.
Zosano will be responsible for funding and developing the product, including clinical, regulatory and manufacturing scale-up activities.
Zosano will also manufacture the product and provide commercial product supply to Lilly.
For further deal information visit Current Agreements (subscription required)
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