Alliance & Inhale in $20 mill technology deal
Alliance Pharmaceutical Corp has transferred the rights to itsPulmoSpheres particle processing technology and other assets for use in respiratory drug delivery to Inhale Therapeutic Systems. In return, Alliance has received $15 million in cash from Inhale, and a further $5 million of the latter's stock. It will also receive milestone and royalty payments.
Alliance added that it currently has three products in late-stage clinical development, its lead product being Oxygent, a blood substitute which is currently in Phase III trials. LiquiVent, an intrapulmonary agent, is in Phase II/III studies in North America and Europe for the treatment of acute lung injury and acute respiratory distress syndrome.
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