Pulmatrix cross-licenses iSPERSE with MannKind; transfers Bedford R&D facility to extend cash runway

Pulmatrix, Inc.

Pulmatrix grants MannKind exclusive iSPERSE licenses for clofazimine, NTM lung disease, insulin; non-exclusive for endocrine, ILD.
MannKind grants Pulmatrix exclusive Cricket device license for PUR3100 (DHE/migraine); non-exclusive for neurological disease.
MannKind assumes Pulmatrix's Bedford R&D facility lease and equipment; expected close July 2024.
CEO: transaction validates iSPERSE technology and extends cash runway into 2026.
MannKind to provide development services under MSA and may hire some Pulmatrix R&D staff.

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