Aquestive Therapeutics, Inc. entered into a definitive license agreement with Eton Pharmaceuticals, Inc. on October 13, 2026. Under the terms of the agreement, Aquestive granted Eton exclusive rights to commercialize LIBERVANT (diazepam) buccal film in the United States for the acute treatment of seizure clusters in patients with epilepsy.
The Product has received tentative approval from the U.S. Food and Drug Administration (FDA) for patients aged 2 to 5 years and 12 years and older. Eton anticipates commercial availability of LIBERVANT in April 2027, subject to final FDA approval.
Financial terms of the agreement include an upfront license fee of $10.0 million from Eton to Aquestive. Additionally, Aquestive is eligible to receive up to $47.5 million in regulatory and commercial milestone payments. These include a $10.0 million payment upon the first commercial sale in the U.S., which is reduced to $5.0 million if full FDA approval for ages 2–5 is not received by that time, a $2.5 million payment upon FDA approval for patients ages 6–11, and up to $35.0 million tied to specific annual net sales levels in the U.S.
Aquestive will also receive royalties on annual net sales at a mid-teens percentage rate from Eton. In connection with the deal, the companies also entered into a supply agreement under which Aquestive will serve as the exclusive manufacturer and supplier of the Product for a 20-year initial term, subject to automatic three-year renewal periods.
