KalVista Pharmaceuticals (KALV) said Tuesday its namesake unit has licensed commercialization rights for the sebetralstat experimental treatment for hereditary angioedema in Japan to Kaken Pharmaceutical.
The company will receive an upfront payment of $11 million, with an additional payment of up to $11 million, subject to a regulatory milestone expected early next year. KalVista said it's also eligible for commercial milestone payments, plus certain sale royalties.
Hereditary angioedema is a disorder that leads to recurrent attacks of severe swelling.
KalVista shares were up 3.5% in recent premarket activity.
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