By Colin Kellaher
Cytokinetics has struck a deal potentially worth hundreds of millions of dollars to license its promising heart drug aficamten to Bayer in Japan.
Cytokinetics on Tuesday said it will receive an upfront payment of 50 million euros ($52.8 million) and will be eligible to receive up to an additional EUR90 million upon the achievement of milestones through commercial launch.
The South San Francisco, Calif., biopharmaceutical company said it is also eligible to receive up to EUR490 million in commercial milestone payments, along with royalties on sales of the drug in Japan.
German drugs-to-crops giant Bayer will have an exclusive license to develop and commercialize aficamten in Japan.
Cytokinetics has filed for U.S. Food & Drug Administration approval of aficamten in hypertrophic cardiomyopathy, the most common genetic heart disease, and has said it expects to file for European approval by the end of the year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 19, 2024 06:38 ET (11:38 GMT)
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