Kyowa Hakko Kirin receives exclusive rights to develop and commercialize bardoxolone methyl
January 18, 2016
Under the terms of the agreement, Kyowa Hakko Kirin will have the exclusive rights to develop, market, and sell bardoxolone for CKD and related indications in Japan, China, Taiwan, Korea, and Southeast Asian countries. Reata retains the rights to develop and commercialize bardoxolone in all other territories, including the United States, Europe, Latin America, and Asian markets not licensed to Kyowa Hakko Kirin. Reata will receive $132 million in development milestones, including an up-front payment of $35 million. Reata will also be entitled to receive up to $140 million in sales milestones as well as escalating double-digit royalties from Kyowa Hakko Kirin sales in the licensed territories.
???We are very excited by the medical and commercial opportunity presented by bardoxolone in CKD and related diseases,??? commented Ken Yamazumi, Ph.D., COO of Kyowa Hakko Kirin. ???The renal field is one of three strategic focuses of the company. CKD is a large and rapidly growing problem in Japan and the rest of Asia, and the Phase 2 data with bardoxolone suggests for the first time that a drug may be able to arrest or reverse progression of the disease. We are looking forward to the opportunity to deliver the benefit of this novel medicine to patients in Asia through this partnership with Reata.???
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