Lipocine (LPCN) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 12, 2024, Lipocine Inc. entered into an exclusive License Agreement with Gordon Silver Limited and Verity Pharmaceuticals, Inc., granting rights to commercialize TLANDO and TLANDO XR in the U.S. and Canada. Lipocine will receive an $11 million licensing fee, up to $259 million in sales milestones, and tiered royalties of 12-16% on net sales. GSL will handle development and commercialization costs in the licensed territories, with the License Agreement set to last in perpetuity unless terminated under specific conditions.
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