AmacaThera signed a licensing and collaboration agreement with Pacira BioSciences worth up to $230 million for AMT‑143, a hydrogel‑based long‑acting ropivacaine designed for extended post‑operative analgesia. AmacaThera will receive $5 million upfront and is eligible for up to $225 million in development and sales milestones plus tiered royalties; Pacira will fund Phase II, manufacturing and commercialization. AMT‑143 leverages AmacaThera’s tunable hydrogel delivery platform and showed sustained local release up to 14 days in Phase I testing. The deal shifts late‑stage development and commercialization risk to Pacira while allowing AmacaThera to lead select early clinical work. For pain‑management portfolios and opioid‑reduction initiatives, the agreement validates hydrogel delivery as a commercializable approach and supplies a clear path to registrational testing in 2026.