Mundipharma acquires Invossa rights in Japan

UK-based Mundipharma has agreed a deal worth up to $600 million to acquire exclusive Japanese rights for Invossa (TissueGene-C) with South Korean firm Kolon Life Science (Kosdaq: 102940).

Invossa is a non-surgical treatment for osteoarthritis pain with long-term efficacy that has been hailed as the world's first cell-mediated gene therapy for osteoarthritis, the most common form of arthritis.

Mundipharma and Kolon are expanding their existing agreement over Invossa in Korea, though the opportunity is significantly larger in Japan, where as many as 31 million people are believed to be affected by knee osteoarthritis.