Keros Therapeutics (KROS) said Tuesday that it will receive a $200 million upfront payment from Takeda Pharmaceutical (TAK) in connection to a global development and commercialization license deal to advance elritercept.

The license agreement with Takeda took effect on Jan. 16, the biopharmaceutical company said.

Keros shares were up 5% and Takeda shares were edging 0.3% higher in recent premarket activity.