United States-based Viela Bio has signed a licensing deal with Mitsubishi Tanabe Pharma, a subsidiary of Mitsubishi Chemical Holdings Corporation, it was reported yesterday.
The contract has been signed to develop and commercialise Viela Bio's inebilizumab in nine Asian countries intended for the treatment of autoimmune and inflammatory diseases. The product will be developed and marketed in the Asian regions for the treatment of neuromyelitis optica spectrum disorder and other potential indications in the future.
Under the terms of the contract, Viela will be paid an upfront licensing fee of USD30m. The company also stands to receive additional payments based on certain development and commercial milestones along with payments based, in part, on sales revenue. Mitsubishi Tanabe will manage the development and commercialisation of the product in Japan, Thailand, South Korea, Indonesia, Vietnam, Singapore, Malaysia, Philippines, and Taiwan.
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