- Ardelyx (NASDAQ:ARDX) and Kyowa Hakko Kirin (OTCPK:KYKOF) announces that they have entered into a license agreement that provides Kyowa Hakko Kirin with exclusive rights to develop and commercialize Ardelyx's lead investigational product, tenapanor, for the treatment of cardiorenal diseases, including hyperphosphatemia, in Japan.
- Under the terms of the agreement, Ardelyx will receive a $30M upfront payment and is eligible to receive additional milestones worth up to $130M. Ardelyx is also eligible to receive high-teen royalties throughout the term of the agreement.
- Kyowa Hakko Kirin will have the exclusive rights to develop, market and commercialize tenapanor in Japan.
- Tenapanor is an oral, minimally systemic NHE3 inhibitor discovered and developed by Ardelyx for the treatment of hyperphosphatemia in patients with end-stage renal disease (ESRD) who are on dialysis.
- Shares of ARDX are up 13% premarket on light volume.
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