Kyorin Pharmaceutical (TYO:4569) has granted Novartis an exclusive global license for KRP-M223 and its backup compounds, according to its filing on Monday.
Novartis will develop, manufacture, and commercialize the drug, while Kyorin retains commercialization rights in Japan.
Kyorin will receive a $55 million upfront payment, potential milestones up to $777.5 million, and tiered royalties.
KRP-M223, an MRGPRX2 antagonist for allergic diseases, is currently in the pre-clinical stage.
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