Deal valued at a total of USD 121M plus royalty payments
Calliditas Therapeutics AB (“Calliditas”) and Everest Medicines II Limited (“Everest Medicines”) announced today that they have entered into a license agreement to develop and commercialize Calliditas’ leading drug candidate Nefecon in Greater China and Singapore for the chronic autoimmune kidney disease IgA Nephropathy (IgAN).
Under the terms of the agreement, Calliditas will receive an initial upfront payment of 15M USD at signing of the agreement, as well as future payments linked to pre-defined development, regulatory and commercialization milestones up to an additional 106M USD, including an option worth up to 20M USD for the development of Nefecon in other potential indications. Everest will also pay typical royalties on net sales.
Calliditas is currently running a pivotal, global Phase 3 clinical trial with Nefecon for the treatment of patients with IgAN. The agreement gives Everest Medicines exclusive rights to develop and commercialize Nefecon in China, Hong Kong, Macau, Taiwan and Singapore and may, depending on the outcome of consultation with the relevant regulatory authorities, lead to the inclusion of Chinese study centers in the ongoing pivotal study, NefIgArd, with the result of achieving registration approval for the Chinese market on an accelerated basis. Following potential registration approvals, Everest will be responsible for the commercialization of Nefecon in the relevant territories.