Otsuka pays for European and Japanese voclosporin rights
Otsuka Pharmaceutical (TYO: 4578) has acquired rights for the development and commercialization of oral voclosporin to treat lupus nephritis (LN) in the European Union (EU) and Japan as well as the UK, Russia, Switzerland, Norway, Belarus, Iceland, Liechtenstein and Ukraine.
The Japanese drugmaker will pay Canada-headquartered firm Aurinia Pharmaceuticals (TSX:AUP) for the rights in exchange for $50 million in cash and up to $50 million in regulatory and reimbursement milestone payments.
"This collaboration will provide Aurinia with additional non-dilutive funds to focus on the successful US launch of voclosporin"Aurinia will also receive tiered royalties ranging from 10% to 20% on net sales on commercialization, along with additional milestone payments based on the attainment of certain annual sales by Otsuka.
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