Taiho Pharma opts into exclusive license for quemliclustat
Japanese drugmaker Otsuka Holdings (TYO: 4578) subsidiary Taiho Pharmaceuticals has exercised its option for quemliclustat from US biotech Arcus Biosciences (NYSE: RCUS).
The drug is an investigational small molecule CD73 inhibitor, and Taiho has gained right in Japan and certain other territories in Asia (excluding mainland China).
This option exercise is based on an option and license agreement between Taiho and Arcus contracted in September 2017. This is the fourth option exercise by Taiho to an Arcus program. In exchange for the exclusive license of quemliclustat, Taiho will make an undisclosed option exercise payment, as well as additional payments on the achievement of clinical, regulatory and commercialization milestones, and, if any products from the program are approved, will pay royalties on net sales of such products. Quemliclustat is an investigational small molecule CD73 inhibitor.
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