UroGen Gets $7.5 Million Payment from Licensing Agreement

Thanks to an Investigational New Drug (IND) application for RTGel from Allergan, UroGen Pharma (NASDAQ:URGN) will receive a $7.5 million licensing agreement payment.
As quoted in the press release:

“Our licensing agreement with Allergan for the use of our RTGel in combination with BOTOX^® continues to be productive with the recent achievement of this important IND submission,” said Ron Bentsur, Chief Executive Officer of UroGen. “We are excited about the potential of the RTGel/BOTOX^® combination to become an important additional treatment option for patients suffering from overactive bladder.”

In October 2016, UroGen granted an exclusive worldwide license to Allergan to develop and commercialize pharmaceutical products that contain UroGen’s proprietary RTGel and clostridial toxins, including BOTOX^®.  UroGen is eligible to receive additional payments related to the achievement of certain development, regulatory, and commercial milestones, in addition to royalties on potential net sales.

Click here to read the full press release.

Source: globenewswire.com