Kyorin Pharmaceutical Co., Ltd. (4569.T), has entered into a licensing agreement with UBE Corp. (UBEOF, 4208.T) for novel drug candidates discovered by UBE, securing exclusive worldwide rights to develop, manufacture, and commercialize the compounds.
The agreement includes an upfront payment from Kyorin to UBE, while financial terms were not disclosed.
The company said that the UBE will be eligible to receive development and regulatory milestone payments tied to progress and approvals, as well as commercial milestone payments based on net sales targets.
Royalties on future net sales are also included.
The collaboration aims to combine UBE's compound discovery strengths with KYORIN's development expertise to accelerate the delivery of new treatment options for patients with unmet medical needs.
Kyorin Pharma is currently trading, 1.71% lesser at JPY 1,605 on the Tokoyo Stock Exchange.
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