BRIEF—Calliditas and Everest agree licensing deal for Nefecon

Calliditas Therapeutics has agreed to sell rights to Everest Medicines to develop and commercialize the kidney disease therapy Nefecon (budesonide) in China, Hong Kong, Macau, Taiwan and Singapore.

The candidate is under Phase III development for the chronic autoimmune kidney disease IgA Nephropathy (IgAN).

Calliditas will receive an initial upfront payment of $15 million, plus development, regulatory and commercialization milestones up to $106 million, plus royalties on sales.

Everest is also buying an option for the development of Nefecon in other potential indications.

Following potential registration approvals, Everest will be responsible for the commercialization of Nefecon in the relevant territories.