Lipocine inks distribution, license agreement with SPC Korea for Tlando

Lipocine (LPCN) announced a license, development and supply agreement with to SPC Korea granting exclusive rights to market Tlando in South Korea. Under the terms of the distribution and license agreement, Lipocine will receive an upfront payment and is also eligible to receive certain regulatory and sales milestone payments, including a payment upon regulatory approval of Tlando in South Korea. Lipocine is entitled to royalties on net commercial sales. Lipocine will supply Tlando to SPC Korea and will receive a supply price. SPC Korea will assume responsibility for obtaining regulatory approval within the territory.