Anika Therapeutics Announces U.S. MONOVISC® License and Supply Agreement with DePuy Mitek, Inc. (press release)
Anika Therapeutics, Inc. (NASDAQ:ANIK) today announced the signing of an exclusive, multi-year U.S. licensing and supply agreement with DePuy Mitek, Inc., a leading orthopedic sports medicine company, for Anika’s MONOVISC®, a highly purified, high molecular weight form of hyaluronic acid for treating pain in patients suffering from osteoarthritis of the knee.
In connection with the entering into of the agreement, Anika will receive an initial payment of $2.5 million. Anika also will be entitled to receive additional payments from DePuy Mitek, following the mutual decision to launch the product, related to future regulatory, clinical, and sales milestones. The MONOVISC® product is currently pending approval by the U.S. Food and Drug Administration.
Anika’s Chief Executive Officer, Charles H. Sherwood, Ph.D., commented “Our collaboration with DePuy Mitek for Anika’s initial viscosupplementation product, ORTHOVISC®, has provided great benefit to both organizations. We are very pleased to strengthen this strong and productive alliance with the addition of the MO...
