 SALT LAKE CITY, Oct. 18, 2021 PRNewswire -- Under the terms of Agreement Lipocine to receive: Up to 21.0 million in licensing fees, including 11.0 million payable immediately and 10.0 million to be paid in the future subject to certain conditions Commercial sales milestone payments of up to 160.0 million Tiered royalties on net sales of TLANDO from mid-teens up to 20 Antares Pharma to undertake all commercialization, post-marketing study obligations, and sourcing of TLANDO in the U.S. Lipocine grants Antares Pharma an option to license TLANDO XR for development and commercialization in the U.S. Upon exercise of the option, Lipocine to receive: An additional 4.0 million in license fees, clinical and regulatory milestone payments of up to 35.0 million, and tiered royalties on net sales from mid-teens up to 20 Antares Pharma to be responsible for all clinical development costs, regulatory filings, commercialization, and post-marketing commitments Lipocine retains all rights for ex-U.S. territories, and non TRT indications for TLANDO and TLANDO XR Lipocine Inc. NASDAQ: LPCN, a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, today announced it has entered into an exclusive licensing agreement with Antares Pharma, Inc. to commercialize TLANDO in the United States. TLANDO is an oral testosterone product for testosterone replacement therapy TRT in adult males indicated for conditions associated with a deficiency or absence of endogenous testosterone: primary hypogonadism congenital or acquired and hypogonadotropic hypogonadism congenital or acquired. 