Dive Brief:
- Ardelyx has hooked up with Shanghai Fosun Pharmaceutical Industrial Development Company Limited, granting the Chinese company exclusive rights to develop and commercialize tenapanor in China for irritable bowel syndrome with constipation (IBS-C) and hyperphosphatemia related to chronic kidney disease.
- Fosun will make an upfront payment of $12 million and additional potential milestones worth up to $113 million. Ardelyx will get tiered royalties on sales of mid-teens to 20%.
- The deal includes rights that allow Fosun to commercialize tenapanor in China for indications already approved in the U.S.
Dive Insight:
Ardelyx, Inc. is making a push into the Asian market, which is growing substantially. In many countries, especially China, working with a local partner makes access to the market more straightforward and more effective.
"As one of the leading healthcare companies in China, Fosun Pharma is an ideal partner to commercialize tenapanor in the Chinese market. Their strong focus on and track record of successfully marketing cardiorenal medicines in China, as well as their experience in GI, were critical decision-making factors in this collaboration," said Mike Raab, president and CEO of Ardelyx.
This is Ardelyx' second regional deal for tenapanor. Last month, the California-based company licensed to Kyowa Hakko Kirin Co., Ltd., granting the Japanese company exclusive rights to develop and commercialize the drug for the treatment of cardiorenal diseases, including hyperphosphatemia, in Japan. This deal gave Ardelyx a $30 million upfront payment, and the promise of a potential $130 million in development and commercialization milestone payments, as well as high-teen royalties when the drug reaches the market.
Fosun is increasingly active in bringing biotech solutions to a domestic market in China. In January, it created a joint venture with Kite Pharma to create Fosun Kite Biotechnology Co., Ltd. The aim of the agreement is to develop, manufacture and commercialize the CAR-T cell therapy Yescarta (axicabtagene ciloleucel) in China, with an option to include two T cell receptor (TCR) product candidates. Fosun has completed a GMP-standard manufacturing facility in Shanghai.