Taiho Pharmaceutical and Phost'in ink license deal on PhOx430

Japanese drugmaker Otsuka Holdings (TYO: 4578) subsidiary Taiho Pharmaceutical has entered into an option and license agreement with French biotech firm Phost’in Therapeutics, through which Taiho will gain option rights to in-license PhOx430, a first-in-class small molecule targeting GnT-V (nacetylglucosaminyltransferase-V).

Under the terms of this accord, Taiho will make an undisclosed upfront payment to Phost’in. In return, Taiho will receive an option right to in-license PhOx430 and additional undisclosed compounds and to exclusively develop and commercialize the compounds in Japan and certain other territories in Asia (excluding China). When Taiho takes up its option right, the company will make an option exercise payment, as well as additional payments on the achievement of clinical, regulatory and commercial milestones. The company will also pay royalties on net sales in its regions.

Phost’in retains the right to develop and commercialize the licensed compounds in other territories, including North America, Europe and China and will be in charge of manufacturing.