BioCryst, Torii Pharmaceutical Co. Ltd. deal

Torii received an exclusive license in Japan to develop BCRX's purine nucleoside phosphorylase (PNP) inhibitors. Torii initially will focus on the development of BCX-34, BCRX's lead product, for rheumatoid arthritis, T cell cancers and atopic dermatitis.

BCRX will receive $3 million in up-front payments, consisting of a $1.5 million licensing fee and a $1.5 million purchase of 76,608 shares of BCRX common at $19.58 per share. BCRX could receive an additional $19 million in milestones. ...