By Fineline Cube 
Lee’s Pharmaceutical Holdings Limited (HKG: 0950) announced that its wholly‑owned subsidiary Nova Pneuma Inc. (NPI) has acquired assets from Alexza Pharmaceuticals, Inc., gaining full ownership of the Staccato One Breath Technology (Staccato OBT) platform, including pipeline products, intellectual property, and manufacturing rights. The deal strengthens Lee’s Pharm’s inhalation capabilities and includes a manufacturing partnership with UCB for Staccato alprazolam, currently in Phase 3.
Acquisition Summary & Strategic Assets
| Element | Details |
|---|---|
| Acquirer | Lee’s Pharmaceutical (via Nova Pneuma Inc.) |
| Target | Alexza Pharmaceuticals assets |
| Technology | Staccato OBT platform (excipient-free, rapid-onset inhalation) |
| Key Products | Staccato alprazolam (Phase 3, epilepsy), Adasuve (commercial, acute agitation) |
| Included Rights | IP, know-how, trademarks, GMP facility access, worldwide licensing rights |
| UCB Partnership | Lee’s Pharma to receive milestones up to USD 60.5 million + tiered royalties + manufacturing revenue |
Staccato OBT Technology & Product Pipeline
Technology Profile:
- Delivery Method: Aerosolized inhalation in a single breath
- Onset: As fast as intravenous injection, but non-invasive
- Advantage: Rapid therapeutic effect without needles
Product Pipeline:
- Staccato alprazolam: Phase 3 for rapid relief of epileptic seizures (UCB holds global rights)
- Adasuve: Approved for acute agitation in adult schizophrenia/bipolar I disorder
- Additional Assets: Clinical-stage pipeline products included in acquisition
UCB Partnership & Financial Terms
UCB Agreement Structure:
- Origin: UCB acquired Engaged Therapeutics in June 2020 for Staccato alprazolam
- Rights: UCB retains global development and commercialization rights
- Lee’s Pharma Role: Exclusive manufacturer for worldwide supply
- Financial Terms: Up to USD 60.5 million in milestones + tiered royalties on global net sales + manufacturing revenue
Strategic Rationale:
- Manufacturing Revenue: Immediate revenue stream from worldwide product supply
- Milestone Upside: Potential for significant payments upon Phase 3 completion and approvals
- Platform Validation: Partnership with global pharma validates Staccato OBT technology
Market Impact & Global Expansion Strategy
- Inhalation Market: China respiratory drug delivery market valued at ¥12 billion (≈ US$1.7 billion), growing at 15% CAGR
- Competitive Moat: Staccato OBT is unique, highly differentiated technology with broad applicability
- Pipeline Expansion: Acquisition adds multiple clinical-stage assets to Lee’s portfolio
- Global Ambition: Manufacturing for UCB positions Lee’s as key supplier in global CNS market
- R&D Synergy: Platform can be applied to Lee’s proprietary pipeline, accelerating development
Forward‑Looking Statements
This brief contains forward‑looking statements regarding the Staccato OBT platform integration, manufacturing capabilities, and milestone payment timelines. Actual results may differ due to regulatory, manufacturing, and partnership execution risks.-Fineline Info & Tech