MTPC will pay up to $102.52 million for kidney disease treatment and led a $43.94 million financing round for Cytochroma.
Cytochroma inked a deal with Mitsubishi Tanabe Pharma (MTPC) involving its vitamin D analog that could be worth up to C$105 million, or $102.52 million. Concurrent with this agreement, Cytochroma closed a C$45 million, or $43.94 million, Series C financing that was led by MTPC.
In connection with the financing, Seiichi Kiso, Ph.D., GM, business development and licensing department of MTPC, will join Cytochroma’s board of directors.
The licensing deal between the firms gives MTPC exclusive rights in the U.S. and Asia to develop and commercialize CTA018. Under the terms of the agreement, Cytochroma is entitled to receive an upfront fee, milestone payments, the aforementioned equity investment, and royalties.
The compound, which was licensed from Johns Hopkins University, is entering Phase II development for the treatment of secondary hyperparathyroidism in patients with chronic kidney disease.
MTPC and Cytochroma will jointly develop and commercialize CTA018 in the U.S. In Asia MTPC has full rights and responsibilities for product development, approval, and commercialization of CTA018.
The agreement also grants MTPC access to certain follow-on compounds to CTA018 for the same territories, with Cytochroma retaining all rights to CTA018 and these follow-on compounds in all regions outside the U.S. and Asia.
