Japan-based Kyorin Pharmaceutical Co., Ltd. announced a licensing agreement with Novartis (NYSE: NVS), granting the Swiss pharmaceutical giant exclusive global development, manufacturing, and commercialization rights to its KRP-M223. Under the agreement, Kyorin retains an option to commercialize the drug in Japan and manufacture it for the Japanese market, while Novartis has an option to co-promote with Kyorin in Japan.
Financial Terms
As part of the agreement, Kyorin will receive an upfront payment of USD 55 million from Novartis. Additionally, Kyorin is eligible to receive milestone payments of up to USD 777.5 million upon the achievement of certain development, approval, and commercialization milestones. The company will also receive tiered royalties based on net sales of KRP-M223.
Drug Profile
KRP-M223 is an MRGPRX2 antagonist currently at the pre-clinical stage. The drug is being developed for the treatment of allergic and inflammatory diseases involving mast cells, such as chronic spontaneous urticaria. The licensing agreement with Novartis aims to leverage the global reach and expertise of both companies to advance the development and commercialization of KRP-M223.-Fineline Info & Tech
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