Travere Therapeutics Announces Licensing Agreement With Renalys Pharma To Develop And Commercialize Sparsentan In Japan, South Korea, Taiwan, And Southeast Asian Nations
Portfolio Pulse from Benzinga Newsdesk
Travere Therapeutics, Inc. (NASDAQ:TVTX) has entered into an exclusive licensing agreement with Renalys Pharma, Inc. to develop and commercialize sparsentan, a treatment for IgA nephropathy, in Japan, South Korea, Taiwan, and several Southeast Asian countries. Travere will receive an upfront payment and is eligible for up to $120 million in milestone payments, plus royalties on net sales. Renalys will handle development, regulatory matters, and commercialization in the licensed territories. A registrational study in Japan is planned for Q2 2024, with results expected in H2 2025.
January 25, 2024 | 9:40 pm
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Travere Therapeutics has licensed sparsentan to Renalys Pharma for Asian markets, with potential financial benefits including upfront payment, milestones up to $120M, and sales royalties.
The licensing agreement is likely to have a positive short-term impact on TVTX's stock price due to the upfront payment and the potential for significant future milestone payments and royalties. The deal expands the market for sparsentan into Asia, which could lead to increased revenue streams. The positive outlook is based on the company's potential financial gains and strategic expansion, although the actual impact will depend on the progress and success of the regulatory and development milestones.
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