Pulmatrix (PULM) has announced a strategic cross-licensing agreement with MannKind (MNKD). As part of this agreement, MannKind will provide Pulmatrix with an exclusive, royalty-free license to utilize its Cricket inhalation device for the delivery of PUR3100—Pulmatrix's dihydroergotamine formulation developed with iSPERSE technology. Additionally, Pulmatrix will receive a non-exclusive, royalty-free license to use the Cricket inhalation device for any dry powder formulations aimed at treating or preventing neurological diseases.
Conversely, Pulmatrix will extend MannKind an exclusive, royalty-free license to use iSPERSE technology with clofazimine for the inhalation treatment or prevention of infections, including nontuberculous mycobacteria lung disease, and with insulin for diabetes treatment or prevention. Moreover, MannKind will receive a non-exclusive, royalty-free license to use iSPERSE for the inhalation treatment or prevention of endocrine and interstitial lung diseases.
In conjunction with this agreement, MannKind will take over the lease for Pulmatrix’s Bedford, Massachusetts R&D facility, including all leasehold improvements, laboratory equipment, and associated personal property. MannKind also plans to recruit several members from the Pulmatrix R&D team.
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