(RTTNews) - Biopharmaceutical company Aclaris Therapeutics, Inc. (ACRS) and Chinese therapeutic company Pediatrix Therapeutics, Inc. announced that the companies have entered into a license agreement.
Under the license agreement, Aclaris has granted Pediatrix the exclusive rights to develop, manufacture and commercialize ATI-1777, Aclaris' investigational "soft" Janus kinase (JAK) 1/3 inhibitor, for any disease, including atopic dermatitis, in Greater China (Mainland China, Hong Kong, Macau and Taiwan).
Aclaris will retain the rights to develop, manufacture and commercialize ATI-1777 in the rest of the world.
Under the terms of the agreement, Aclaris will receive an upfront payment of $5 million. In addition, Aclaris is eligible to receive milestone payments of up to $91 million if certain development, regulatory and commercial objectives are achieved.
Aclaris is also eligible to receive a tiered royalty ranging from a low-to-high single digit percentage of net sales of ATI-1777 by Pediatrix in Greater China.
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