Updated on 22 September 2015
New York-based BioSpecifics Technologies Corp. that develops collagenase based-therapies has initiated the first commercial sale of Xiaflex through its Japanese collaborator Asahi Kasei Pharma Corporation for the treatment of Dupuytren's contracture.
The deal has triggered a $1.0 million milestone payment to BioSpecifics.
Asahi Kasei Pharma has the rights to develop and market Xiaflex in Japan for Dupuytren's contracture and Peyronie's disease through an agreement with BioSpecifics' partner Endo International plc (Endo).
"We recognize the importance of expanding Xiaflex's reach to new patients around the globe and the first commercial sale of Xiaflex in Japan is an important milestone for this effort," commented Thomas L Wegman, President of BioSpecifics. "We are very happy that there is now a non-surgical treatment option available to patients suffering from the debilitating effects of Dupuytren's contracture in this territory."
Under the terms of BioSpecifics' agreement with Endo, in addition to receiving a $1.0 million milestone payment related to the first commercial sale of Xiaflex in Japan, BioSpecifics will receive royalties on net sales, mark-up on cost of goods sold and sales-based milestone payments.
Dupuytren's contracture is caused by an abnormal accumulation of collagen in the palm of the hand characterized by the formation of nodules or lumps in the early stages. As the disease progresses, a cord is formed and the fingers may become progressively contracted. Once the Dupuytren's collagen cord can be felt, it is referred to as a ‘palpable cord'.