United Therapeutics and MannKind Announce Closing of License and Collaboration Agreement
October 16 2018 - 6:00AM
United Therapeutics Corporation (Nasdaq: UTHR) and MannKind
Corporation (Nasdaq: MNKD) today announced the closing of
their pending worldwide exclusive license and collaboration
agreement for the development and commercialization of Treprostinil
Technosphere®, a dry powder formulation of treprostinil being
developed for the treatment of pulmonary arterial hypertension. As
previously announced, the effectiveness of the agreement was
conditioned upon expiration or termination of the required waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act. The
requisite waiting period expired on October 15, 2018, and the
agreement became effective the same day.
About MannKind Corporation
MannKind Corporation (NASDAQ: MNKD) focuses on
the development and commercialization of inhaled therapeutic
products for patients with diseases such as diabetes and pulmonary
arterial hypertension. MannKind is currently commercializing
Afrezza® (insulin human) Inhalation Powder, the Company's first
FDA-approved product and the only inhaled rapid-acting mealtime
insulin in the United States, where it is available by prescription
from pharmacies nationwide. MannKind is headquartered in Westlake
Village, California, and has a state-of-the art manufacturing
facility in Danbury, Connecticut. The Company also employs field
sales and medical representatives across the U.S. For further
information, visit www.mannkindcorp.com.
About United Therapeutics
United Therapeutics Corporation focuses on the
strength of a balanced, value-creating biotechnology model. We are
confident in our future thanks to our fundamental attributes,
namely our obsession with quality and innovation, the power of our
brands, our entrepreneurial culture and our bioinformatics
leadership. We also believe that our determination to be
responsible citizens – having a positive impact on patients, the
environment and society – will sustain our success in the long
term.
Through our wholly-owned subsidiary, Lung
Biotechnology PBC, we are focused on addressing the acute national
shortage of transplantable lungs and other organs with a variety of
technologies that either delay the need for such organs or expand
the supply. Lung Biotechnology is the first public benefit
corporation subsidiary of a public biotechnology or pharmaceutical
company. [uthr‑g]
Forward-looking Statements
This press release contains forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995, as amended. Forward-looking statements are statements
that are not historical facts. These statements include projections
and estimates and their underlying assumptions, statements
regarding plans, objectives, intentions and expectations with
respect to future financial results, events, operations, services,
product development and potential, and statements regarding future
performance. Forward-looking statements are generally identified by
the words “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “plans” and similar expressions. Although United
Therapeutics’ and MannKind’s management teams believe that the
expectations reflected in such forward-looking statements are
reasonable, investors are cautioned that forward-looking
information and statements are subject to various risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of United Therapeutics and MannKind, that could
cause actual results and developments to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include
among other things, the uncertainties inherent in research and
development, future clinical data and analysis, including post
marketing, decisions by regulatory authorities, such as the FDA,
regarding whether and when to approve any drug or device
application that may be filed for any such product candidates as
well as their decisions regarding labelling and other matters that
could affect the availability or commercial potential of such
product candidates, the absence of any guarantee that the product
candidates if approved will be commercially successful, the future
approval and commercial success of therapeutic alternatives as well
as those discussed or identified in the public filings with the
Securities and Exchange Commission made by United Therapeutics and
MannKind, including those risks and uncertainties listed in United
Therapeutics’ and MannKind’s annual reports on Form 10-K for the
year ended December 31, 2017, and listed or described in subsequent
reports filed by United Therapeutics and MannKind with the
Securities and Exchange Commission. We are providing this
information as of October 16, 2018, and neither United Therapeutics
nor MannKind undertake any obligation to update or revise the
information contained in this press release whether as a result of
new information, future events or any other reason.
TECHNOSPHERE and AFREZZA are registered
trademarks of MannKind Corporation.
Contacts:
United Therapeutics James Edgemond Chief Financial
Officer and Treasurer Phone: (301) 608-9292 E-mail:
jedgemond@unither.com
MannKind Rose Alinaya SVP, Investor Relations
Phone: (818) 661-5000 E-mail: ir@mannkindcorp.com
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