MannKind to in-license iSPERSE technology from Pulmatrix

MannKind Corporation (MNKD) has agreed to in-license iSPERSE technology from Pulmatrix (PULM) for certain indications in exchange for an out-license of MannKind’s Cricket inhaler to Pulmatrix for inhaled delivery of dihydroergotamine for migraine treatment. The two companies also agreed that Pulmatrix will transfer its Bedford, Mass. R&D facility to MannKind, along with all leasehold improvements, laboratory equipment and other related personal property used in the laboratory in non-cash transaction. The royalty-free licensing structure will allow MannKind to have exclusive use of the iSPERSE technology for clofazimine, NTM, and insulin, and non-exclusive use for endocrine diseases and interstitial lung diseases including idiopathic pulmonary fibrosis, progressive pulmonary fibrosis and other related lung diseases. In exchange, Pulmatrix will receive a royalty-free, exclusive license to MannKind’s single-use Cricket inhalation device for inhaled delivery of DHE in any formulation and non-exclusive use for neurological diseases. MannKind expects to consolidate its Boston presence by transitioning its Marlborough staff into the newly renovated, fully outfitted R&D facility in Bedford. To maintain continuity of iSPERSE platform knowledge, MannKind plans to hire some members of current Pulmatrix R&D staff. The agreement is anticipated to close in July 2024.