RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

OT - Aiming, Here's the latest news on that company who supply the abuse-resistant technology for PTIE's Remoxy. Durect has an interesting pipeline -

>>> Durect shares rocket on pain pact

By Carolyn Pritchard, MarketWatch
Last Update: 6:26 PM ET Nov 29, 2006

SAN FRANCISCO (MarketWatch) -- Durect Corp. shares rocketed 50% higher in late trade Wednesday after the specialty pharmaceutical company signed an agreement to develop a post-operative pain treatment that could be worth as much as $202 million. Shares of the Cupertino, Calif.-based Durect (DRRX ) added $1.90 in after-hours dealings to change hands for $5.70. Durect and privately held Nycomed of Demark have agreed to jointly develop Posidur, a long-acting local anesthetic being developed to treat post-surgical pain that uses Durect's Saber delivery system, an injectable, biodegradable drug delivery technology. Under terms of the agreement, Nycomed will pay Durect an upfront license fee of $14 million, with additional milestone payments of up to $188 million upon achievement of certain development, regulatory and sales milestones. The two will jointly and equally fund Posidur's development; Durect will have commercialization rights in the U.S., Canada, Asia and other countries while Nycomed's rights will cover the European Union and a selection of other countries. Durect will manufacture and supply Posidur to Nycomed for sales outside the U.S. and Nycomed will pay Durect blended royalties ranging on such sales ranging from 15% to 40%. Posidur is currently in Phase II clinical development; it's expected to enter Phase III in 2007. <<<