Zosano, Asahi Kasei sign licensing deal for weekly transdermal patch formulation of Teribone for osteoporosis.
M2 PHARMA-October 11, 2011-Zosano, Asahi Kasei sign licensing deal for weekly transdermal patch formulation of Teribone for osteoporosis(C)2011 M2 COMMUNICATIONS
11 October 2011 - US Zosano Pharma Inc and Japanese Asahi Kasei Pharma Corporation, or AKP, part of Asahi Kasei Corporation (TYO:3407), said on Monday they have signed a long-term strategic partnership deal for the development, commercialisation and supply of a weekly transdermal patch formulation of Teribone (teriparatide acetate), AKP's formulation of human parathyroid hormone (human PTH 1-34), for the treatment of osteoporosis patients with a high risk of fracture.
Under the agreement, AKP has received exclusive rights to develop and commercialise the transdermal patch formulation of Teribone in Japan, Korea, China and Taiwan. The Japanese firm is responsible for clinical and regulatory development and commercialisation activities.
The transdermal patch product uses Zosano's patented, clinically validated, and GMP manufactured microprojection technology (known as ZP Patch Technology) to administer human PTH (1-34) through the skin. It is expected to provide the benefits of self-administration, weekly dosing, room temperature stability, and pain-free delivery without the need for an injection, the parties added.
As part of the deal, AKP has paid Zosano USD7.5m (EUR5.5m) in upfront consideration. In addition, AKP will pay more than USD25m in milestone payments related to development, regulatory and launch accomplishments.
Zosano will receive revenue-based royalties based on sales of the microprojection patch formulation of Teribone in the Asian territories, as well as reimbursement for all development and manufacturing costs.
AKP said it is committing additional financial and technical resources toward the development of the patch for the treatment of osteoporosis in the Asian territories, and expects to commence studies in Japan in 2012.
The parties said they intend to continue negotiations regarding the extent of their strategic collaboration, including potential joint development of the patch in other territories.
The agreement was inked on 22 February 2011, although AKP and Zosano agreed not to unveil it until the subcutaneous injection form of Teribone for osteoporosis patients was approved in Japan, which occurred on 26 September 2011.
(USD1 = EUR0.733)
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|Date:||Oct 11, 2011|
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