Tonix Pharmaceuticals (NASDAQ:TNXP) agreed to acquire two currently-marketed products from Upsher-Smith Laboratories: Zembrace SymTouch injection 3 mg, and Tosymra nasal spray 10 mg, for the treatment of acute migraine with or without aura in adults.
Collectively, these products generated product sales of approximately $23-million for 2022. Zembrace SymTouch and Tosymra each may provide onset of migraine pain relief in as few as 10 minutes for some patients and currently have patent protection to 2036 and 2031, respectively.
Under the accord, Tonix Medicines will make an upfront payment of $12-million to Upsher-Smith at closing on June 30 and an additional $3-million in March 2024, or on an earlier conclusion of the transition services period.
In addition, Tonix Medicines will pay approximately $10-million to Upsher-Smith at closing to acquire certain product-related inventories.
To support the transition, Upsher-Smith has agreed to provide certain commercial operations, regulatory and other transition services to Tonix Medicines for up to nine months after closing, in exchange for agreed service fees.
“In addition to the potential growth that these two on-market products represent over time, the acquisition helps build Tonix’s commercial capabilities ahead of the potential launch of our TNX-102 SL product candidate for the treatment of fibromyalgia,” Seth Lederman, M.D., CEO of Tonix, said in a statement.
He said these products align strongly with the company TNX-1900 intranasal product candidate, in clinical development for the prevention of chronic migraine. “This is an important step in the evolution of Tonix into a fully integrated pharmaceutical company,” Dr. Lederman said.
