Pulmatrix Inc. announced a series of transactions with MannKind Corporation. The company entered into a cross license with MannKind pursuant to which MannKind will grant Pulmatrix a perpetual, royalty free, exclusive license to use MannKind's Cricket inhalation device for the inhaled delivery of any dry powder formulation formulated for the treatment or prevention of neurological disease. As part of the transaction, MannKind will assume the lease of Bedford, Mass., R&D facility along with all leasehold improvements, laboratory equipment and other related personal property used in the laboratory.

To maintain continuity of iSPERSE?? platform knowledge, MannKind plans to hire some members of the Pulmatrix R&D staff. The agreements are anticipated to close in July 2024.