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Post by mindovermatter on Jan 21, 2016 9:30:46 GMT -5
Announcement of NDA submittals to the FDA will generate more buzz.
BTW, there are lots of nano-technology biotech development companies in Seattle. In what time frame where you thinking those NDA will happen? 1 year? I wouldn't think they'll be any time soon.
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Post by suebeeee1 on Jan 21, 2016 9:30:59 GMT -5
"Multiple inhaled therapeutic projects". Does not mention any "upfront" payments only potential milestone payments. And a very low royalty. I hope they didn't just transfer the bulk of potential for technosphere to a small new startup. Maybe it's a secret side project spun off from Sanofi! LOL One thing for sure is that it looks like we are back to silence from Mannkind with this "deal." Unfortunately, another shareholder lawsuit filed within the last few days, probably has everyone quiet.
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Post by factspls88 on Jan 21, 2016 9:31:08 GMT -5
Glad to get some good news but like others, I'm disappointed that there was no upfront. Let's hope that the first milestone is based on a relatively easy hurdle to achieve.
Also, I wonder if the entity could possibly be funded by a VC.
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Post by coo2002coo on Jan 21, 2016 9:35:03 GMT -5
Just wonder who the CEO (or management team) is of Receptor Life Sciences.
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Post by suebeeee1 on Jan 21, 2016 9:37:47 GMT -5
You'd better bet some folks on Wall Street know who is behind this new startup. There will probably be some sort of hit article today which will attempt to keep the sp down and in the same breath name the principles.
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Post by jimo on Jan 21, 2016 9:38:21 GMT -5
On the surface it looks to have no teeth. Zero transparency on this one so far, we need to know the payment schedule as cash is what matters to MNKD now.
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Post by mindovermatter on Jan 21, 2016 9:38:25 GMT -5
Just wonder who the CEO (or management team) is of Receptor Life Sciences. No one. It's the first fully automated biopharma run by droids.
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Post by peppy on Jan 21, 2016 9:39:09 GMT -5
A copy and paste of the news MannKind Enters Into Collaboration and License Agreement VALENCIA, Calif., Jan. 21, 2016 (GLOBE NEWSWIRE) -- MannKind Corporation (MNKD) (MNKD) today announced that it has entered into a collaboration and license agreement with a newly formed entity, Receptor Life Sciences, Inc., pursuant to which multiple inhaled therapeutic products will be developed to explore their potential to treat conditions such as chronic pain, neurologic diseases and inflammatory disorders.
Under the terms of the agreement, MannKind will perform initial formulation studies and will work with Receptor to develop inhaled formulations of certain undisclosed compounds. MannKind will also transfer manufacturing technology to the licensee, who will be responsible for manufacturing and commercialization activities. The parties will collaborate on the clinical development of investigational products, with Receptor being responsible for all development costs. MannKind will be eligible to receive development and commercialization milestones of up to $102.25 million as well as mid-single to low double-digit royalties on net sales of product.
“We are pleased that Receptor Life Sciences has selected our formulation and delivery technology to advance its portfolio of innovative inhaled products,” said Matthew Pfeffer, Chief Executive Officer of MannKind. “This collaboration demonstrates the fundamental value of our platform technology while the risk-sharing structure of the transaction allows us to diversify our product opportunities without losing focus on our lead program.”
About Receptor Life Sciences, Inc. Receptor Life Sciences, Inc. is a pharmaceutical development company based in Seattle, Washington. Receptor is quietly laying the foundation for groundbreaking new products in the specialty pharmaceutical market.
Inquiries: info@receptorlife.com finance.yahoo.com/news/mannkind-enters-collaboration-license-agreement-140000395.html
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Post by mnholdem on Jan 21, 2016 9:40:47 GMT -5
Announcement of NDA submittals to the FDA will generate more buzz.
BTW, there are lots of nano-technology biotech development companies in Seattle. In what time frame where you thinking those NDA will happen? 1 year? I wouldn't think they'll be any time soon. Dr Urbanski only posted a few slides at the JPM Conference, but here is what he revealed:
Development Plan Timelines
- Trepostinil (TS) is scheduled for IND submission the end of 3Q16 (IND Enabling Phase starts 1Q16)
- Palonsetron (TS) is scheduled for IND submission by the end of 1Q17 (IND Enabling Phase starts 3Q16)
- Epinephrine (TSS) is scheduled for IND submission by 1Q17 (IND Enabling Phase starts 3Q16)
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Post by stevil on Jan 21, 2016 9:41:46 GMT -5
Perhaps it's the "pessimist" in me, but I view this a few different ways, and none are inherently "good". First, we're essentially giving the drugs away for free. $100mil in milestones and single digit-low double digit % of sales? Let's call it 10%. I have no idea what MNKD is expecting these to project in yearly sales, but unless these drugs end up being blockbusters, they're not going to fund the year's worth of expenses. So here's why I'm so "pessimistic" on it. First, this was likely the best we could do. This is concerning to me, if true, as it means we may continue to have trouble finding favorable partners in the future. These drugs will not come out overnight, so the success of the drugs are unlikely to help us land any other big players near-term. No one has heard of this company so it will be unlikely to raise the SP much. Next, as others have stated, it won't really help us with our cash problem. $100 mil in milestones will probably be correlated to the drug's success, meaning high production will be needed to reach the milestone. Hopefully it's attainable, but even if we get the full $100 million, we're still not out of the woods. As Matt said, it's basically just enough nourishment to keep us alive so we can get Afrezza going. But we're still in starvation mode. To prove that I'm not 100% pessimistic (although it'll still be laced in pessimism the silver lining here is that it's exposure, even if slight. We're bringing another drug to market that will hopefully blaze a trail for other inhaled applications and take away any false stigmas associated with FDKP and inhaled medicine- why there would be any in the first place is anyone's guess as we've had inhaled drugs for years. So it seems like MNKD is doing whatever it takes to develop their company, even if it means essentially giving the early company away for free. That's sometimes what it takes, though. In short, this is a start. Gets the momentum rolling. But it's not going to sustain the company and we need much more than this in the future if we hope to stay in business.
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Post by Deleted on Jan 21, 2016 9:41:53 GMT -5
not even one statement from Receptor life?
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Post by Deleted on Jan 21, 2016 9:46:54 GMT -5
Perhaps it's the "pessimist" in me, but I view this a few different ways, and none are inherently "good". First, we're essentially giving the drugs away for free. $100mil in milestones and single digit-low double digit % of sales? Let's call it 10%. I have no idea what MNKD is expecting these to project in yearly sales, but unless these drugs end up being blockbusters, they're not going to fund the year's worth of expenses. So here's why I'm so "pessimistic" on it. First, this was likely the best we could do. We probably couldn't find any better partners with better terms. No one has heard of this company so it will be unlikely to raise the SP much. Next, as others have stated, it won't really help us with our cash problem. $100 mil in milestones will probably be correlated to the drug's success, meaning high production will be needed to reach the milestone. Hopefully it's attainable, but even if we get the full $100 million, we're still not out of the woods. As Matt said, it's basically just enough nourishment to keep us alive so we can get Afrezza going. But we're still in starvation mode. To prove that I'm not 100% pessimistic (although it'll still be laced in pessimism the silver lining here is that it's exposure, even if slight. We're bringing another drug to market that will hopefully blaze a trail for other inhaled applications and take away any false stigmas associated with FDKP and inhaled medicine- why there would be any in the first place is anyone's guess as we've had inhaled drugs for years. So it seems like MNKD is doing whatever it takes to develop their company, even if it means essentially giving the early company away for free. That's sometimes what it takes, though. In short, this is a start. Gets the momentum rolling. But it's not going to sustain the company and we need much more than this in the future if we hope to stay in business. royalty is based of sales and not profitability / production costs /
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Post by od on Jan 21, 2016 9:47:46 GMT -5
The light I am looking for at the end of the tunnel is an Afrezza sales chart that goes up.
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Post by kbrion77 on Jan 21, 2016 9:48:32 GMT -5
not even one statement from Receptor life? Do they even have their computers and phones set up lol? Not really the big press release I wanted to hear but hopefully they are products that could be fast tracked by Receptor and MNKD is still working with a big pharma for PAH with some decent upfront dollars. If not we will be in a world of hurt this year.
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Post by mindovermatter on Jan 21, 2016 9:50:15 GMT -5
not even one statement from Receptor life? the company just formed for crying out loud. Give them some time to find a PR person, jeez! HA!
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