MicroDose Technologies (MicroDose) entered into a multi-product development and licensing agreement with Novartis for the MicroDose dry powder inhaler (DPI). This agreement follows the successful completion of an exploratory study performed with the MicroDose DPI.
Under the terms of the agreement, including the initial payment, MicroDose could receive up to $125 million in milestones for the successful development of the first five products. In addition, Novartis will pay MicroDose development costs and royalties on product sales, and Novartis will fund the necessary development, manufacturing and marketing costs for all products. In return, Novartis will receive exclusive rights to the MicroDose inhaler technology for its proprietary respiratory products.
