MENLO PARK, Calif., March 28, 2012 (GLOBE NEWSWIRE) -- Depomed, Inc. (Nasdaq:DEPO) today announced that it has received the remaining license fee payment resulting from its collaboration with Boehringer Ingelheim, a research-driven global pharmaceutical company, headquartered in Ingelheim, Germany. The payment follows the development and delivery of prototype formulations meeting pre-specified attributes under its agreement to license Acuform® technology and data to Boehringer Ingelheim signed in March 2011. Under the terms of the agreement, Depomed has licensed to Boehringer Ingelheim worldwide rights to Depomed’s Acuform® gastric retentive drug delivery technology to develop and commercialize certain fixed dose combination products that include extended release metformin and proprietary Boehringer Ingelheim compounds in development for type 2 diabetes. Under the terms of the agreement, Depomed is eligible to receive additional milestone payments based on regulatory filing and approval events and royalties on worldwide net sales of products.
