Acura receives $2.5 million payment from Egalet

PALATINE - Acura Pharmaceuticals has received a $2.5 million milestone payment from Egalet Corp. triggered by the first commercial shipments of Oxaydo oxycodone HCI tablets, a product Egalet licensed from Acura.

Oxaydo is an immediate release formulation that incorporates Acura's Aversion abuse-deterrent technology. Aversion technology is a patented mixture of gelling ingredients and nasal irritants designed to address some common forms of opioid abuse.

Acura's license agreement with Egalet provides for an additional one-time payment of $12.5 million when annual worldwide net sales of Oxaydo first reach $150 million in a calendar year. Acura will also receive a stepped royalty commencing on the first commercial sale at percentage rates from mid-single digits to double digits based on the level of Oxaydo worldwide net sales in a calendar year.

Acura Pharmaceuticals is a specialty pharmaceutical company engaged in the research, development and commercialization of products intended to address medication abuse and misuse using its Limitx, Aversion and Impede technologies.