Vertex Pharmaceuticals (VRTX) and Ono Pharmaceutical said Monday they signed an exclusive collaboration and license agreement to develop and commercialize Vertex's povetacicept product candidate in Japan and South Korea.

Povetacicept is being developed for the treatment of immunoglobulin A nephropathy or IgAN, primary membranous nephropathy or pMN, and other B cell-mediated diseases. The deal covers IgAN and pMN, with the option to add other indications.

Under the deal, Vertex will receive an upfront payment, plus certain milestone payments and tiered royalties. Ono said it will help Vertex advance clinical trials for povetacicept and be in charge of regulatory processes in Japan and South Korea.

Once approved, Ono will be responsible for povetacicept's commercialization in Japan and South Korea.