Charlotte | December 6, 2018 – Hammock Pharmaceuticals Inc., TriLogic Pharma LLC and MilanaPharm LLC announced today that it has entered into a definitive agreement with Daré Bioscience Inc., under which the Daré Bioscience has acquired the global rights to MP-101 for the treatment of bacterial vaginosis (BV), as well as the rights to utilize the underlying proprietary hydrogel drug delivery technology for any vaginal or urological application in humans.
“Hammock is excited to announce our partnership with Daré Bioscience. The transaction allows Hammock to focus on our OTC products and to potentially recognize value from MP-101 and the novel hydrogel technology. We look forward to working with the Daré and MilanaPharm teams on the transition and the lead product candidate and possibly other product candidates incorporating the hydrogel technology” said William R. Maichle, CEO of Hammock Pharmaceuticals.
“We believe this Phase III program will allow us to move into a leadership position in an area of great concern for both women and healthcare providers,” said Sabrina Martucci Johnson, President and CEO of Daré.
Under the agreements with Hammock and TriLogic/MilanaPharm, Daré received an exclusive, worldwide, royalty-bearing license to research, develop and commercialize the technology, paid one-time upfront fees of $275,000 and will pay one-time deferred fees of $450,000 within one year. In addition, Daré agreed to make potential future milestone payments through the term of the license based on clinical,regulatory, commercial launch and sales events, and to pay royalties based on commercial sales. Patents covering the licensed technology have been granted with terms through 2028 and additional patents pending would
have terms through 2035.
Destum Partners advised Hammock Pharmaceuticals on the transaction.
About Hammock Pharmaceuticals
Hammock Pharmaceuticals is an international branded, specialty pharmaceutical and consumer health
company acquiring and developing differentiated solutions for innovative drug delivery in therapeutic
areas of unmet medical needs. Hammock Pharmaceuticals is headquartered in Charlotte, North Carolina with
offices in London, Ontario, Canada
William Maichle-CEO | email@example.com | 704-727-7127
MilanaPharm is a specialty pharmaceutical company built upon a proprietary drug delivery platform for
numerous active compounds. MP-101 is part of the company’s hydrogel platform, which is designed to
deliver drugs that remain in place over periods ranging from several hours to several days, depending on
the desired delivery profile, in order to achieve an effective treatment outcome.
Jim Harwick-CEO | firstname.lastname@example.org | 334-315-8981
About Daré Bioscience
Daré Bioscience is a clinical-stage biopharmaceutical company committed to the advancement of
innovative products for women’s reproductive and sexual health.
Contacts: Investors on behalf of Daré Bioscience, Inc.:
Ami Bavishi | Burns McClellan | email@example.com | 212-213-0006
Media on behalf of Daré Bioscience, Inc.:
Amanda Guisbond | Canale Communications | firstname.lastname@example.org | 781-405-8775