By Colin Kellaher
Keros Therapeutics has inked an agreement potentially worth more than $1 billion with Japan's Takeda Pharmaceutical aimed at advancing Keros' elritercept drug candidate.
Keros and Takeda on Tuesday said the deal gives Takeda an exclusive license to further develop, manufacture and commercialize elritercept outside of mainland China, Hong Kong and Macau in exchange for an upfront payment of $200 million.
Elritercept is in late-stage development for the treatment of anemia associated with certain blood cancers, including myelodysplastic syndromes and myelofibrosis.
Keros, a Lexington, Mass., clinical-stage biopharmaceutical company, said it is eligible to receive development, approval and commercial milestones with the potential to exceed $1.1 billion, along with royalties on product sales.
Takeda said the addition of elritercept bolsters its oncology pipeline and introduces a potential future growth driver for the Osaka-based drugmaker.
Elritercept is a potential rival to Bristol Myers Squibb's Reblozyl, which generated sales of nearly $1.23 billion during the first nine months of 2023.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 03, 2024 08:34 ET (13:34 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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