Updated on 15 December 2015
MTPC will make payments totaling $100 million for costs associated with the global Phase 3 program for vadadustat
Singapore: Akebia Therapeutics and Mitsubishi Tanabe Pharma Corporation (MTPC)has announced that they have entered into a development and commercialization agreement for vadadustat (formerly AKB-6548), an oral therapy for the treatment of anemia related to chronic kidney disease (CKD), in Japan and certain other countries in Asia.
Under the terms of the agreement, MTPC will make payments totaling $100 million for costs associated with the global Phase 3 program for vadadustat, including $40 million upon signing. In addition, Akebia is eligible to receive up to approximately $250 million in additional milestone payments, based upon achievement of certain development and sales milestones. MTPC will also make tiered royalty payments, from low teens up to twenty percent, on sales of vadadustat in Japan, Taiwan, South Korea, Indonesia, India and other Asian countries.
"Vadadustat offers a new paradigm for the treatment of anemia for CKD patients. This partnership with MTPC validates vadadustat's therapeutic potential and helps ensure that its potential is realized in Asia," said Mr John P Butler, president and CEO of Akebia. "MTPC is one of the largest, most successful pharmaceutical companies in Japan with a substantial presence in these Asian markets. They are committed to the development and commercialization of innovative products, with a strategic focus on products for renal disease and diabetes, making them an ideal partner for Akebia."
"A safer treatment for managing anemia related to chronic kidney disease remains a significant unmet need globally," said Mr Masayuki Mitsuka, president and representative director, CEO of Mitsubishi Tanabe Pharma Corporation. "We see great potential in vadadustat to advance the care of chronic kidney disease patients. We look forward to our collaboration with Akebia."