Chugai and Alebund enter option and license deal for EOS789

Japanese drug major Chugai Pharmaceuticals (TYO: 4519) has entered into an option and license agreement with Chinese biotech Alebund Pharmaceuticals (Hong Kong), regarding Chugai’s EOS789, an investigational agent under development for hyperphosphatemia.

EOS789 is an oral inhibitor of phosphate transporters, NaPi-IIb, PiT-1, PiT-2, which was discovered by Chugai and studied in Phase I clinical trial. After entering into the agreement, Alebund, which in May this year raised $60 million in its Series B financing round, plans to conduct an early-stage efficacy clinical trial to further evaluate EOS789. If Alebund exercises the option, Chugai will grant Alebund an exclusive license to develop, manufacture, and commercialize EOS789 for all indications worldwide including Japan.

Financial terms of accord