InSite Vision Inc. (fka INSV)

[The Rainmaker]

Azasite Royalty paid to INSV from Inspire is 20% up until September 2009 then it goes up to 25%. The first milestone payment INSV got from Inspire was $13 million. The second upon FDA approval was $19 million.

InSite Vision licensed AzaSite to Inspire Pharmaceuticals which has exclusive rights to commercialize AzaSite in the United States and Canada. As part of the agreement, Inspire paid InSite an upfront license fee of $13 million and an additional $19 million milestone payment when the product was approved by the Food and Drug Administration (FDA) in April 2007. Inspire also pays a royalty on net sales of AzaSite in the United States and Canada at a rate of 20% in the first two years of commercialization and 25% thereafter.


In answer to your question about exact royalty they get for Besivance sales. They have a non-disclosure with Bausch & Lomb they never gave an exact figure. In a past conference call the CEO alluded to it being somewhere between 5-7% for Besivance.