KemPharm, a specialty pharmaceutical company based in Coralville, entered a new licensing agreement with an affiliate of Gurnet Point Capital (GPC), a private investment firm focused on the life sciences and medtech sectors, reports the Corridor Business Journal. The agreement provides GPC’s affiliate with an exclusive worldwide license to develop, manufacture and commercialize KemPharm’s product candidates containing serdexmethylphenidate (SDX) and d-methylphenidate (d-MPH), including KemPharm’s attention deficit and hyperactivity disorder product candidates, KP415 and KP484. KemPharm will receive an upfront payment of $10 million and reimbursements for most, if not all, of KP415’s preapproval development costs. It will also be eligible to receive other regulatory and sales milestone payments of as much as $483 million, as well as tiered royalty payments based on net sales.
