Teijin gets Japan rights to Versartis' somavaratan

Teijin Pharma Ltd. (Tokyo, Japan) acquired exclusive rights in Japan to somavaratan ( VRS-317) from Versartis Inc. (NASDAQ:VSAR). The candidate is in a Phase II/III trial in Japan to treat pediatric growth hormone deficiency (GHD).

Versartis received $40 million up front and is eligible for $125 million in milestones, plus royalties. Versartis will be responsible for development costs in Japan, and Teijin will fund regulatory and commercialization activities. ...