Takara Bio Signs Exclusive License Agreement with Otsuka for the Investigational Cancer Treatment HF10, an Oncolytic Virus
Kusatsu/Shiga, Japan — December 15, 2016 — Takara Bio Inc. (Takara) announced today that it has entered into an exclusive license agreement with Otsuka Pharmaceutical Co., Ltd. (Otsuka) for co-development and commercialization in Japan of the oncolytic virus HF10 (HF10).
Under the terms of the agreement, Takara gives Otsuka exclusive rights to develop and commercialize HF10 in Japan. In return, Otsuka will pay Takara an up-front payment at the time of the execution of the agreement and will also pay milestone payments upon the achievement of certain development milestones up to a maximum total amount of approximately 3 billion yen.
Takara retains the rights to manufacture HF10, and will supply the products for use in clinical trials and for post-approval in return for unspecified fees to be paid by Otsuka.
Takara and Otsuka will jointly develop HF10 for the treatment of pancreatic cancer, melanoma and other tumors, and look forward to providing the new treatment option through the future development of HF10.
About Otsuka Pharmaceutical Co., Ltd.
|Company Name||Otsuka Pharmaceutical Co., Ltd.|
|Head Office||2-9, Kanda Tsukasa-machi, Chiyoda-ku, Tokyo 101-8535, Japan|
|Business Description||Manufacturing, distributing, exporting, and importing of pharmaceuticals, clinical testing equipment, medical device and equipment, food products, cosmetics, and other related products|
|Capital||20 billion yen|
|Date Established||August 10, 1964|
|Employees||5,719 (as of Dec. 31, 2015)|
|Principal shareholder||Otsuka Holdings Co., Ltd.|
This article is translated from press release in Japanese for your convenience.
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