Updated on 23 November 2015
Tokyo: Elixirgen LLC, a growing biotechnology company in Baltimore, has entered an exclusive license agreement with Sumitomo Dainippon Pharma Co. Ltd., a major pharmaceutical company in Japan.
The agreement will focus on Elixirgen's research regarding biologics targeting diseases associated with genome instability and chromosome abnormalities. Sumitomo Dainippon Pharma will gain exclusive rights for the further research (in part), development, and commercialization of the biologics in the region of Japan. Elixirgen will receive an upfront payment. In addition, Elixirgen is eligible to receive payments for development milestones, and royalties and milestones on the commercial sales of approved products inJapan. Outside of Japan, Elixirgen retains all rights.
"We are excited to work with one of the leading pharmaceutical companies in Japan for development and commercialization of our biologics in Japan. We believe this agreement will help accelerate our transition to clinical trials for our therapies," said Naomi Ko, CEO of Elixirgen.