24 April 2018 - - South San Francisco, California-based clinical-stage biotechnology company Vaxart, Inc. has received notification from okyo, Japan-based pharmaceutical company Daiichi Sankyo Company, Ltd. that sales of Inavir, a single dose product licensed in Japan to prevent or treat influenza infection, exceeded JPY 20bn in the fiscal year 2017, triggering a USD 5m milestone payment to Vaxart, the company said.
The payment is expected in 2Q18 and is in accordance with the terms of the 2009 commercialization agreement between Daiichi Sankyo and Biota Pharmaceuticals, a company recently acquired by Vaxart.
Since its launch in 2010, Inavir (laninamivir octanoate) has become the leading treatment for influenza in Japan. The product is taken via a single inhaled dose, which can be more convenient than other flu medications that require several days of dosing.
Inavir is sold in Japan by Daiichi Sankyo and has been approved for both treatment and prevention of the influenza A and influenza B viruses.
Daiichi Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical products to address diversified, unmet medical needs of patients in both mature and emerging markets.
The company has a presence in more than 20 countries, and 15,000 employees, in addition to a strong portfolio of medicines for hypertension and thrombotic disorders.
Vaxart is focused on developing oral recombinant protein vaccines based on its proprietary oral vaccine platform.
The company's oral vaccines are designed to generate broad and durable immune responses that protect against a wide range of infectious diseases and may be useful for the treatment of chronic viral infections and cancer.
Its development programmes include oral tablet vaccines designed to protect against norovirus, seasonal influenza and respiratory syncytial virus, as well as a therapeutic vaccine for human papillomavirus.