Shionogi signs option accord with FunPep on allergy vaccine
Japanese drugmaker Shionogi (TYO: 4507) has linked up with fellow Osaka-based FunPep Co regarding the anti-IgE antibody-induced peptide FPP004X, currently under development by FunPep for the treatment of seasonal allergic rhinitis (pollen allergy).
As a result, Shionogi will acquire exclusive research, development, and commercialization rights for FPP004X worldwide, based on the results of clinical trials conducted by FunPep.
In return, Shionogi will pay FunPep a small one-time fee upon signing of 300 million yen ($2 million), a one-time licensing fee if the option is exercised, and up to 17.8 billion yen ($118.3 million) in development and sales milestones, along with royalties based on sales. Additionally, Shionogi says it will invest 200 million yen in FunPep as part of this option agreement.
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