Benzinga | Oct 18, 2021 12:56PM EDT

Lipocine, Antares Ink Licensing Pact For Testosterone Replacement Therapy In US

* Lipocine Inc (NASDAQ:LPCN) has entered into an exclusive licensing agreement with Antares Pharma Inc (NASDAQ:ATRS) to commercialize Tlando in the U.S.

* Tlando is an oral testosterone product for testosterone replacement therapy in adult males indicated for conditions associated with a deficiency or absence of endogenous testosterone.

* Under the terms of the agreement, Lipocine will receive an immediate upfront cash payment of $11.0 million and, an additional $5.0 million in January 2025, and another $5.0 million in January 2026.

* Lipocine will also be entitled to receive sales-based commercial milestone payments of up to $160.0 million.

* Lipocine grants Antares Pharma an option to license Tlando XR for development and commercialization in the U.S.

* Upon exercise of the option, Lipocine to receive an additional $4.0 million in license fees, clinical and regulatory milestone payments of up to $35.0 million, and tiered royalties on net sales from mid-teens up to 20%.

* Price Action: LPCN shares are up 0.44% at $1.14 during the market session on the last check Monday.