Galway, Ireland. Aerogen Ltd, a privately owned respiratory drug delivery company has today announced that it has signed a technology access and licence agreement with Philips (NYSE: PHG, AEX: PHIA), which also includes the acquisition of select assets solely related to Aerogen’s home-care business.
This transaction will allow Aerogen to focus on its corporate strategic goal to expand its leadership position in the respiratory drug delivery acute care and homecare ventilation settings. The deal consists of an initial upfront payment with further royalty income based on exploitation of the licensed technology. Further details of the transaction are not disclosed.
“This deal is an important step along Aerogen’s growth trajectory as it allows us to focus on expanding our core business in the acute care setting, whilst facilitating consistency of care for respiratory patients from hospital to home,” said John Power, Aerogen CEO. “Our acute care business has grown at a phenomenal rate over the past five years. Working with the global leaders in acute care ventilation and our independent distribution network we are today recognised as the gold standard for aerosol delivery in acute care ventilation. With several important new product releases planned for early 2014 we look forward to expanding our leadership position across all areas of aerosol drug delivery in the hospital environment”.
The Philips deal announcement caps an incredible year for Aerogen. The company was honoured with the prestigious Zenith Award from the American Association of Respiratory Care (AARC) in November and went on to win the Medical Technology Company of the Year Award presented by the Irish Medical Device Association (IMDA) in December.
Both Aerogen and Philips are committed to ensuring that the transaction will enhance the supply of products and services to their respective customers. Aerogen’s acute-care and home ventilator drug delivery business is unaffected by the transaction and no employees will transfer to Philips.