Biotech Charts II (fka )

[surf1944]

8:03AM MAP Pharma and Allergan (AGN) announce collaboration within the United States for LEVADEX; MAPP will receive a $60 mln up-front payment from and up to $97 mln in additional payments (MAPP) 15.50 : AGN and MAPP announced a collaboration within the United States for LEVADEX, a self-administered, orally inhaled therapy that has completed Phase III clinical development for the treatment of acute migraine in adults. MAP Pharmaceuticals currently anticipates submitting its New Drug Application (NDA) for LEVADEX with the FDA in the first half of 2011. Under the terms of the collaboration, following potential FDA approval of LEVADEX, Allergan and MAP Pharmaceuticals will co-promote LEVADEX to neurologists and pain specialists in the United States. MAPP will receive a $60 million up-front payment from Allergan and up to $97 million in additional payments upon meeting certain regulatory milestones associated with the initial indication. If LEVADEX receives FDA approval, the companies will equally share profits from sales of LEVADEX generated from its commercialization to neurologists and pain specialists in the United States.