Astellas signs $92M licensing deal for Ilypsa's hyperphosphatemia drug

USA-based Ilypsa has entered into a license agreement with Japanese drug major Astellas that gives the latter exclusive domestic rights to develop and market ILY101, a drug candidate to treat hyperphosphatemia, which the former is also developing. Under the terms of the deal, Astellas will pay a total of $92.0 million, including an upfront payment of $22.0 million, as well as royalties in the mid-teen range on future sales of the drug in Japan. It says it will start a Phase I domestic trial during fiscal-year 2006. Ilypsa has recently completed a Phase I clinical study of the agent in the USA and intends to initiate a Phase II evaluation in chronic kidney disease patients with hyperphosphatemia within the next few months. The drug is a metal-free polymer that binds phosphorus in the gastrointestinal tract.