Phase III Trial of Hyperphosphatemia Drug Begins in Japan
Japan Tobacco and Torii Pharmaceutical have started the Phase III clinical trial of ferric citrate in Japan to treat patients with hyperphosphatemia.
Japan Tobacco and its subsidiary Torii Pharmaceutical have begun the Phase III clinical trial of ferric citrate in Japan to treat patients with hyperphosphatemia.
The two firms sub-licenced exclusive rights for the development and commercialisation of the hyperphosphatemia drug from Keryx Biopharmaceuticals in September 2007.
As per the licence agreement, Keryx will receive a non-refundable milestone payment of $5m from Japan Tobacco and Torii Pharmaceutical for the achievement of the milestone within 30 days. They will also pay Keryx up to $100m as up-front license fees and payments upon the completion of specified milestones, of which $28m has been already received by Keryx.
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