MannKind Earns $50 Million in Milestone Payments From Sanofi

VALENCIA, Calif., Jan. 8, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation MNKD today announced that it has earned a total of $50 million in milestone payments in connection with the satisfaction of manufacturing milestones specified in its collaboration and licensing agreement with Sanofi. Pursuant to the agreement, MannKind previously received a $150 million upfront payment and is eligible to earn up to $725 million in further development, regulatory and sales milestones, and is also eligible to receive a share of profits on sales of Afrezza.

About MannKind Corporation

MannKind Corporation MNKD focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.