Retrophin Signs US License Agreement for Syntocinon Nasal Spray with Novartis
Retrophin, Inc. (OTC: RTRX) today announced that it has signed an
agreement with Novartis Pharma AG (NYSE: NVS) for an exclusive U.S. license for
Syntocinon™ Nasal Spray, the intranasal formulation of a synthetic
version of the naturally occurring peptide hormone oxytocin, for an
upfront payment of $5.0 million plus milestone payments and royalties.
Syntocinon™ Nasal Spray was approved in the U.S. in 1960 to assist
initial postpartum milk ejection, but was discontinued by Novartis in
1997 for commercial reasons. Retrophin plans to reintroduce the product
for prescription use in the U.S. in Q2 2014. Additionally, the company
intends to pursue a clinical trial program with Syntocinon™ for its
potential use as a treatment for schizophrenia and autism.