Progenics could receive $20 million in milestones.
Ono Pharmaceutical is paying $15 million for rights to develop Progenics Pharmaceuticals’ opioid-induced constipation drug, Relistor®, in Japan. Progenics stands to earn $20 million in milestones related to the development.
Ono is responsible for developing and commercializing subcutaneous Relistor in Japan, including conducting the clinical development necessary to support regulatory marketing approval. If approved Progenics will receive additional fees based on success during commercialization as well as royalties.
Ono also has the option to take over rights to develop and commercialize other formulations of Relistor in Japan, including intravenous and oral forms.
Relistor is already approved in the U.S., Canada, and Europe. Progenics and Wyeth Pharmaceuticals are developing the compound in the rest of the world.
Since Wyeth returned Japanese rights, Progenics will not receive milestones fees from Wyeth linked to development in this country, which was expected to be $22.5 million. Progenics has received $39 million thus far in milestones from Wyeth and could receive another $295 million.