Tolero, MannKind ink license agreement
June 2012
SHARING OPTIONS:

SALT LAKE CITY—Tolero Pharmaceuticals has announced a license agreement with MannKind Corp. that grants Tolero exclusive worldwide rights for the development and commercialization of compounds from MannKind's novel Bruton's tyrosine kinase program, compounds which are currently being developed for the treatment of hematological malignancies and inflammatory diseases. Per the agreement, Tolero will pay MannKind approximately $130 million total in upfront and milestone payments, and MannKind will receive tiered royalties on sales as well as a percentage of sublicensing revenue. MannKind will also have an option to re-acquire the program rights until 60 days after the conclusion of the first Phase I study, and if that option is exercised, MannKind will assume development and commercialization responsibilities and Tolero will be entitled to receive the milestone payments, royalties and sublicensing revenues established in the agreement. 



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