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31 Mar 2011

Intercept Lands $315M Asian Pact for Liver Disease Drug

Japanese drug major Dainippon Sumitomo Pharma has signed an exclusive licensing agreement with privately held US firm Intercept Pharmaceuticals for the development and commercialization of Intercept's INT-747.

Japan's Dainippon Sumitomo is slapping down $15 million and promising up to $300 million more in milestones in exchange for the rights to Intercept Pharmaceuticals' late-stage liver disease drug in China and Japan. Dainippon Sumitomo will also pay double-digit royalties following a prospective approval for INT-747, which will be studied in an upcoming European and U.S. late-stage program for primary biliary cirrhosis.


A little over a year ago the privately-owned Intercept, which has research facilities in Italy, garnered $25 million from a Series B funded by Genextra. INT-747, an FX

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