Seikagaku, Ferring in pain deal

Seikagaku Corp. (Tokyo:4548) granted Ferring Pharmaceuticals A/S (Saint-Prex, Switzerland) exclusive, worldwide rights to develop and commercialize condoliase ( SI-6603), which is in two U.S. Phase III studies to treat sciatica due to lumbar disc herniation. Seikagaku will receive $5 million up front and is eligible for $90 million in milestones, plus royalties.

Seikagaku is responsible for obtaining FDA approval of condoliase, after which Ferring will commercialize the product. Ferring will be responsible for development and commercialization elsewhere. Ferring's rights exclude Japan, where condoliase is under regulatory review. ...