Teijin buys somavaratan rights from Versartis in estimated $140 million deal
Japanese drugmaker Teijin Pharma (TYO: 3401) has bought the rights to develop and commercialize somavaratan (VRS-317), a potential long-acting form of recombinant growth hormone (rhGH), in Japan.
Teijin has paid USA-based Versartis (Nasdaq: VSAR), an endocrine-focused biopharma which is developing somavaratan for the treatment of growth hormone deficiency (GHD), $40 million in an upfront payment and could pay $100 million more in potential development, regulatory and sales milestones.
It estimates the market size of the existing growth hormone products in Japan for pediatric GHD at $580 million.
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