Cytochroma, Mitsubishi Tanabe in CTA018 deal
Cytochroma (Markham, Ontario) granted Mitsubishi Tanabe Pharma (Tokyo:4508; Osaka:4508) an exclusive license to develop and commercialize CTA018 and follow-on compounds in the U.S. and Asia. The vitamin D analog is expected to start Phase II testing to treat secondary hyperparathyroidism (SHPT) in patients with chronic kidney disease (CKD) this year. The companies will jointly develop and commercialize CTA018 in the U.S., and Mitsubishi will be responsible for the compound in Asia. The biotech retains rights outside the U.S. and Asia. The deal excludes rights to CTA018 for topical treatment of psoriasis, for which the compound is in Phase II testing.
Cytochroma could receive up to C$105 million (US$102.7 million), including C$85 million (US$83.1 million) in an upfront payment and potential milestones, and an equity investment of C$20 million (US$19.6 million) as part of a series C financing also announced on Wednesday. Cytochroma also is eligible for royalties on sales in Asia. ...