BOSTON, April 25, 2018 /PRNewswire/ -- Juniper
Pharmaceuticals, Inc. (Nasdaq:JNP), a diversified healthcare
company with core businesses of its
CRINONE® (progesterone gel) franchise and
fee-for-service pharmaceutical development and manufacturing
business Juniper Pharma Services (JPS), today announced an
exclusive worldwide license agreement with Daré Bioscience for the
development and commercialization of the Company's intravaginal
ring (IVR) technology platform, including its three preclinical IVR
candidates targeting unmet needs in women's health. Under the
agreement, Daré will be responsible for conducting all research,
development, and commercial activities for this program.
Under the terms of the agreement, Juniper will provide Daré with
an exclusive, worldwide, royalty-bearing license to research,
develop and commercialize Juniper's IVR platform. In exchange,
Juniper will receive a one-time upfront payment of $250,000 from Daré, and annual license
maintenance fees of $50,000 to
$100,000. In addition, Juniper is
entitled to potential future clinical and regulatory development
milestone payments of up to $13.5
million and sales milestone payments of up to $30.25 million, for a total of $43.75 million for each IVR candidate. Juniper is
also eligible to receive royalties based on future net sales of any
of the platform candidates.
"We are excited to have executed on our goal of finding a
suitable partner to advance our innovative IVR portfolio, which
will allow us to focus our efforts and resources on our core
businesses, JPS and CRINONE®, in line with
our strategic vision," said Alicia
Secor, Juniper's President and CEO. "We are continuing to
work with our advisor Rothschild to explore strategic alternatives
as we seek to build additional value for our shareholders."
Ms. Secor added, "We are thrilled to be partnering with Daré, an
established leader in the women's health space, as they work toward
advancing each of our IVR candidates. The Daré team has a solid
track record in developing women's reproductive health products and
appreciated the potential of the platform to address significant
unmet needs in women's health."
"We see great potential in this promising technology with
established compelling preclinical results in a model that we
believe will translate readily to study in humans and into
intellectual property supportive of further development," said
Sabrina Martucci Johnson, President
and Chief Executive Officer at Daré Bioscience. "The IVR pipeline
is an ideal fit to our pipeline of innovative products designed to
deliver differentiated therapies to women worldwide, and we look
forward to advancing these IVR product candidates into the
clinic."
About the Intravaginal Ring Technology
Juniper's
differentiated development platform leverages IVR technology for
the targeted, sustained delivery of new formulations of existing
pharmaceuticals with the potential to offer multiple benefits to
patients with unmet needs in women's health. Current 505(b)(2)
candidates include JNP-0101, an oxybutynin IVR for the treatment of
overactive bladder in women; JNP-0201, a combination estradiol +
progesterone IVR for hormone replacement therapy; and JNP-0301, a
natural progesterone IVR for the prevention of preterm birth.
About Juniper Pharmaceuticals
Juniper Pharmaceuticals,
Inc.'s core businesses include its CRINONE®
(progesterone gel) franchise and Juniper Pharma Services, which
provides high-end fee-for-service pharmaceutical development and
clinical trials manufacturing to clients. The Company is also
leveraging its differentiated intravaginal ring technology, which
offers the potential to address unmet needs in women's health.
Please visit www.juniperpharma.com for more information.
Juniper Pharmaceuticals™ is a trademark of Juniper
Pharmaceuticals, Inc., in the U.S. and EU.
CRINONE® is a registered trademark of
Merck KGaA, Darmstadt, Germany,
outside the U.S. and of Allergan plc in the U.S.
Forward Looking Statements
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements relating to Juniper's exploration of
strategic alternatives. Management believes that these
forward-looking statements are reasonable as and when made.
However, such forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause actual
results to differ materially from those projected in the
forward-looking statements. These risks and uncertainties include,
but are not limited to, the uncertainty associated with being able
to identify, evaluate and complete any strategic alternative, the
impact of the announcement of the Company's review of strategic
alternatives, as well as any strategic alternative that may be
pursued, on the Company's business. For a discussion of certain
risks and uncertainties associated with Juniper Pharmaceuticals'
forward-looking statements, please review the Company's reports
filed with the SEC, including, but not limited to, its Annual
Report on Form 10-K for the period ended December 31, 2017 and
subsequent filings with the SEC. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date on which they are made. These statements are
based on management's current expectations and Juniper
Pharmaceuticals does not undertake any responsibility to revise or
update any forward-looking statements contained herein, except as
expressly required by law.
Investor Contact:
Argot Partners
Laura Perry or Heather Savelle
212-600-1902
laura@argotpartners.com
heather@argotpartners.com
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SOURCE Juniper Pharmaceuticals, Inc.