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Anika Therapeutics signs US licence, supply deal with DePuy Mitek for MONOVISC.

M2 PHARMA-December 22, 2011-Anika Therapeutics signs US licence, supply deal with DePuy Mitek for MONOVISC(C)2011 M2 COMMUNICATIONS

22 December 2011 - Anika Therapeutics Inc (NASDAQ:ANIK) said on Wednesday it had signed an exclusive, multiyear US licencing and supply agreement with orthopedic sports medicine firm DePuy Mitek Inc for Anika's MONOVISC product, a highly purified, high molecular weight form of hyaluronic acid for pain relief in patients with osteoarthritis of the knee.

Under the terms of the agreement, Anika is entitled to an initial payment of USD2.5m (EUR1.9m) and to additional payments from DePuy Mitek on regulatory, clinical and sales milestones after the two companies decide to launch the product.

MONOVISC is currently awaiting the nod of the US Food and Drug Administration (FDA).

Anika and DePuy Mitek have yielded mutual benefits form their earlier partnership on Anika's initial viscosupplementation product, ORTHOVISC, and has now expanded their productive collaboration to the MONOVISC product.

MONOVISC has been marketed outside the US since 2008 and is currently sold in many European and Middle Eastern countries as well as in Canada.

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Publication:M2 Pharma
Date:Dec 22, 2011
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