Acura Pharmaceuticals, Inc. and MainPointe Pharmaceuticals, LLC today announced that they have entered into a License Agreement (the "Agreement") to have MainPointe exclusively market NEXAFED and NEXAFED Sinus in the US and Canada. The pseudoephedrine-containing NEXAFED brand products utilize Acura's IMPEDE® Technology which disrupts the extraction and conversion of the pseudoephedrine into the illicit drug, methamphetamine. MainPointe will assume all manufacturing and commercialization activities from Acura.
"MainPointe is an emerging OTC pharmaceutical company that brings added leverage to our NEXAFED business," commented Bob Jones, Acura's President and CEO. "With additional products in distribution and new customer contacts, MainPointe is well positioned to expand on the US pharmacy distribution achieved by Acura over the past several years."
"Conversion of pseudoephedrine products into methamphetamine remains an acute problem in many communities," said John Schutte, MainPointe's Chairman and CEO. "The NEXAFED products have proven to be a success in curbing this costly problem and we look forward to driving this business forward."
The Agreement provided for an upfront cash payment of $2.5 million to Acura. Acura is eligible to receive a royalty 7.5% based on commercial sales by MainPointe.