It was announced today that Sweden-based Calliditas Therapeutics AB has signed a license agreement with Everest Medicines II Limited, a company that develops novel transformative pharmaceutical therapies for patients in the Emerging Market including Asia Pacific territories.

The contract has been signed to develop and commercialise Calliditas Therapeutics AB's leading drug candidate Nefecon in Greater China and Singapore for the chronic autoimmune kidney disease IgA Nephropathy.

According to the terms of the contract, Calliditas will receive an initial upfront payment of USD15m on signing, with future payments expected up to an additional USD106m, including an option worth up to USD20m for the development of Nefecon in other potential indications.

Everest will also pay typical royalties on net sales.