MannKind licenses novel BTK inhibitors to Tolero Pharma

1 May 2012

USA-based MannKind Corp (Nasdaq: MNKD) has granted an exclusive worldwide license to privately-held Tolero Pharmaceuticals for rights to develop and commercialize compounds from MannKind’s novel BTK (Bruton’s tyrosine kinase) program, which are currently being developed for the treatment of hematological malignancies and inflammatory diseases.

Under the terms of the agreement, Tolero will pay MannKind upfront and milestone payments linked to the development, approval and commercialization of products, for total potential upfront and milestone payments of around $130 million. MannKind will also receive tiered royalties on sales of products and a percentage of sublicensing revenue.

Retains option to re-acquire rights

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