Japan Tobacco and its subsidiary Torii Pharmaceutical will pay up to $100 million for the Japanese licensing rights to Keryx's experimental therapy for high phosphorous levels in the blood. Up to $20 million of that money will become available by April, 2008. The drug, Zerenex, is in Phase II clinical trials in the U.S.
"They have proven themselves to be ideal partners for smaller U.S.-based biotechnology companies seeking development and commercial partners in Japan," said Michael S. Weiss, chairman and CEO of Keryx, about his new partners.
- see the release on the deal