Avanir in up to $110 million deal with OptiNose for migraine product

US drugmaker Avanir Pharmaceuticals (Nasdaq: AVNR) has entered into an exclusive North American license agreement with privately-held Norwegian drug delivery firm OptiNose for the development and commercialization of the latter’s novel Breath Powered intranasal delivery system containing low-dose sumatriptan powder to treat acute migraine. If approved, this product would be the first and only fast-acting, dry-powder nasal delivery form of sumatriptan, the companies said.

Under the terms of the deal, OptiNose received an upfront $20 million in cash and is eligible to receive certain shared development costs and up to an additional $90 million in total linked to the achievement of future clinical, regulatory and commercial milestones. In addition, if approved, Avanir will make tiered royalty payments based on net sales in North America.

"The large migraine market is characterized by a high level of dissatisfaction. OptiNose has developed a unique device that has the potential to transform the clinical profile of the leading migraine drug, resulting in a new product candidate that we believe can significantly improve upon the current treatment options," said Greg Flesher, senior vice president of corporate development and chief business officer of Avanir, adding: "In clinical trials, this innovative and easy-to-use device has demonstrated rapid absorption and migraine relief using approximately 80% less drug than the most commonly prescribed oral sumatriptan. This NDA-ready asset fits well with our current commercial infrastructure and is strategically aligned with strengthening our position as a leading CNS specialty company."