Ferring Pharma gains exclusive rights to Seikagaku's condoliase
Japan’s Seikagaku Corp (TYO: 4548) has granted Switzerland-based Ferring Pharmaceutical exclusive worldwide rights (excluding Japan) to SI-6603 (condoliase), a chemonucleolytic product now in Phase III development for the treatment of radicular leg pain (eg, sciatica) due to lumbar disc herniation.
Seikagaku has been developing condoliase for the USA and Japan and has two on-going Phase III clinical trials (a pivotal double-blind study and an open-label safety study). Seikagaku is responsible for completing development and obtaining US regulatory approval.
Following approval from the Food and Drug Administration, Ferring will commercialize the product in the USA and has received further rights to develop, register and commercialize condoliase worldwide, excluding Japan. In consideration, Ferring will pay Seikagaku an upfront licensing fee, development and regulatory milestones and royalties.
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