BOSTON, Nov. 15, 2016 /PRNewswire/ -- Juniper
Pharmaceuticals, Inc. (Nasdaq: JNP) ("Juniper" or the
"Company"), a women's health therapeutics company, today announced
it has entered into an agreement with its partner, Allergan, Inc.
(NYSE: AGN) ("Allergan") to monetize future royalty payments due to
Juniper for U.S. sales of Crinone® (progesterone gel). Under the
agreement, Juniper will receive a one-time payment of $11 million from Allergan.
"The monetization of our U.S. Crinone royalty stream
significantly strengthens our balance sheet and provides
non-dilutive cash to support our near-term strategic and
operational goals," said Alicia Secor, Juniper's President and
Chief Executive Officer.
The Company sold U.S. Crinone® rights to Allergan in
July 2010; since then, Juniper has
received from Allergan a 10% royalty on its U.S. Crinone® sales.
Juniper will continue as the exclusive supplier of Crinone® for
all markets outside the U.S. and receive revenue from sales to
Merck KGaA, Darmstadt, Germany ("Merck KGaA"). Merck
KGaA holds the marketing authorization for Crinone® in over 90
countries.
Approved in the U.S. in 1997, Crinone® is indicated for
supplementation or replacement as part of an Assisted Reproductive
Technology (ART) treatment for infertile women with progesterone
deficiency.
About Juniper
Pharmaceuticals
Juniper Pharmaceuticals, Inc. is focused on
developing therapeutics that address unmet medical needs in women's
health. The Company is advancing a pipeline of
proprietary product candidates that leverage its
differentiated intravaginal ring technology and the
505(b)(2) regulatory pathway. Juniper's core operating
business includes the Crinone® (progesterone gel) franchise
and Juniper Pharma Services, which provides high-end
fee-for-service pharmaceutical development and clinical trials
manufacturing to clients. 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, Inc. 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 ability
to leverage the 505(b)(2) pathway
for product candidates. 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: risks
associated with the drug development process generally, including
the outcomes of planned clinical trials and the regulatory review
process; the risk that the results of previously conducted studies
involving our product candidates will not be repeated or observed
in ongoing or future studies or following commercial launch, if
such product candidates are approved; risks associated with
obtaining, maintaining and protecting intellectual property; risks
associated with Juniper Pharmaceuticals' ability to enforce its
patents against infringers and defend its patent portfolio against
challenges from third parties; the risk of competition from
currently approved therapies and from other companies developing
products for similar uses; risk associated with Juniper
Pharmaceuticals' ability to manage operating expenses and/or obtain
additional funding to support its business activities; and risks
associated with Juniper Pharmaceuticals' dependence on third
parties. 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/A for the period
ended December 31, 2015 and Quarterly Report on Form 10-Q for
the period ended September 30, 2016
as filed with the SEC on November 14,
2016. 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.
Contact
Amy Raskopf
Director, Corporate Communications, Juniper Pharmaceuticals,
Inc.
(917) 673-5775 / ir@juniperpharma.com
Media:
Amy Covino
Tell Med Strategies
(201) 774-3111 / amy.covino@tmstrat.com
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SOURCE Juniper Pharmaceuticals, Inc.