Windgap Medical inks deal with Denmark’s ALK for epinephrine auto-injector
Windgap Medical last week announced a strategic partnership with ALK-Abelló to commercialize its epinephrine auto-injector to treat anaphylactic shock.
ALK will have exclusive, worldwide sales and distribution rights for the Windgap epinephrine auto-injector through the deal in exchange for technical and sales milestone payments and tiered royalties on net sales in the U.S. The companies will also split net profit for products sold outside of the U.S.
“ALK has been targeting an entry into this important U.S. market segment for a number of years. This product will meet the patients’s, markets’s and payers’s needs for a small, easy-to-use pen, which is heat-stable and has a long shelf life. We believe that, once ALK and Windgap complete development and successfully gain approval for the product, it has the potential to become highly competitive and very profitable for ALK within a few years, despite the current backdrop of genericization,” ALK president and CEO Carsten Hellmann said in a press release.
“Windgap is excited to be working with ALK, a world-leader in the treatment of allergy with a strong understanding of the world-wide EAI market, to help commercialize our product. Our teams are working well in partnership to support that effort,” added Windgap co-founder & CEO Chris Stepanian.
Windgap is in the processing of commercializing its ANDIPen with its manufacturing collaborators. The wet/dry autoinjector platform will use epinephrine to treat anaphylaxis and meets patients needs like portability, temperature stability, ease-of-use and long shelf-life.
“Windgap has worked hard to assemble a world-class team to commercialize our epinephrine autoinjector. I believe the global market to be sizable and significantly under-addressed. In addition to our partnership with ALK, we have strong support through a strategic investment by Molex Ventures. Molex represents one of our major manufacturing collaborators who are investing along-side our Series B lead investor Shepherd Kaplan Krochuk,” Stepanian said.
Windgap raised $12 million from 106 investors as part of a $27 million round for its EAI in January this year.