Genelabs Technologies signs license agreement for lupus drug in Japan
US biopharmaceutical company Genelabs Technologies has entered into a collaboration and licence agreement with Japanese pharma company Tanabe Seiyaku Co. for the Japanese rights to prasterone (Prestara; Anastar; GL701), Genelabs' investigational drug for the chronic autoimmune disease systemic lupus erythematosus (SLE).
US biopharmaceutical company Genelabs Technologies has entered into a collaboration and licence agreement with Japanese pharma company Tanabe Seiyaku Co. for the Japanese rights to prasterone (Prestara; Anastar; GL701), Genelabs' investigational drug for the chronic autoimmune disease systemic lupus erythematosus (SLE).
Under the terms of the agreement, Genelabs granted Tanabe an exclusive license to prasterone in Japan. Tanabe will pay Genelabs milestone payments and fees of up to US$12m, including a $2m non-refundable initial license fee. In addition, Genelabs is entitled to receive royalties on the net sales of prasterone in Japan. Tanabe is responsible for obtaining regulatory approval of prasterone in Japan, including conducting and funding any development work required.
'We believe there will be significant demand for a new lupus drug, and that the current lupus treatments are clearly inadequate,' said Natsuki Hayama, President and Representative Director of Tanabe. 'We further expect that success in the prasterone programme will complement our growing rheumatology franchise, which includes Remicade for rheumatoid arthritis.'