Vicore Pharma and Nippon Shinyaku Forge Exclusive License Partnership for C21 Development and Marketing in Japan
Saturday, February 10, 2024
Vicore Pharma Holding AB (publ) has made a significant stride in its efforts to advance a novel class of drug candidates, angiotensin II type 2 receptor agonists (ATRAGs). The company announced today the signing of an exclusive licensing agreement with Nippon Shinyaku Co. Ltd., a prominent pharmaceutical company based in Japan, for the development and commercialization of Vicore's C21 drug candidate in Japan.
Under the terms of the agreement, Vicore will receive an initial payment of USD 10 million, with potential milestone payments totaling up to USD 275 million tied to development and commercial achievements. Vicore also stands to receive tiered royalties, reaching into the low 20s, based on annual net sales of C21 in Japan. Nippon Shinyaku has secured exclusive rights for the development and commercialization of C21 in Japan, with a primary focus on treating idiopathic pulmonary fibrosis (IPF). The company will bear the operational and financial responsibilities for C21's development in Japan, contributing Japanese patients and sites to the global late-stage development of C21 at its own expense. However, Vicore retains all rights to C21 in the rest of the world.
C21, an oral therapy designed for IPF treatment, has received orphan drug designation from both the U.S. Food and Drug Administration and the European Medicines Agency. Given the limited treatment options available for the approximately 34,000 IPF patients in Japan, C21 holds substantial promise. Notably, in the Phase 2a AIR study, C21 demonstrated its potential by safely and effectively stabilizing or improving lung function in previously untreated IPF patients. A global Phase 2b ASPIRE study is scheduled to commence in the first half of this year.
Vicore, commented, "This partnership marks a significant milestone in C21's development journey." He expressed confidence in Nippon Shinyaku as an ideal partner, given their expertise in rare diseases and successful track record of collaboration in bringing innovative treatments to the Japanese market. Mousa looks forward to a fruitful collaboration with Nippon Shinyaku and leveraging their expertise to successfully develop and commercialize C21 in Japan.
Nippon Shinyaku, emphasized the critical medical need in IPF treatment, stating, "I am pleased to enter into this agreement with Vicore to develop this highly promising therapy for the Japanese market." He highlighted C21 as a significant addition to Nippon Shinyaku's portfolio of therapies for rare diseases.
Source: accesswire.com
