Ilypsa of Santa Clara, CA has inked a $92 million licensing deal for the Japanese rights to its experimental drug for hyperphosphatemia. Astellas will pay $22 million of that up front for ILY101, with the rest in milestones as the drug advances. Hyperphosphatemia occurs in many patients with renal insufficiency, especially those on dialysis. Ilypsa wrapped a Phase I safety study on ILY101 only days ago and plans to launch a mid-stage trial in the next few months. Biotech companies often start the licensing process in Japan, where drug makers have their own drug approval process to deal with. Astellas will start its own Phase I trial this year.
- read the release on the licensing pact