Dermira (DERM) Enters Exclusive Option and License Agreement with Takeda

September 12, 2016 7:52 AM EDT
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Dermira, Inc. (NASDAQ: DERM) today announced that it has entered into an exclusive option and license agreement with Takeda Pharmaceutical Company Limited (TSE: 4502). Pursuant to the terms of the agreement, Dermira has acquired an option to license exclusive worldwide rights for up to three early-stage, small-molecule programs as potential topical treatment options for dermatologic diseases.

“This transaction supports our commitment to identifying and developing differentiated product candidates that could one day provide benefit to the millions of patients living with dermatologic diseases,” said Luis Peña, chief development officer of Dermira. “We look forward to evaluating these new programs as part of our ongoing effort to identify additional opportunities, including clinical-stage programs, to enhance and broaden our existing product development portfolio.”

Under the terms of the agreement, Dermira paid Takeda an upfront fee of $1.5 million, issued in the form of shares of Dermira common stock, in exchange for the right to evaluate and conduct research on Takeda compounds directed to each of three biological targets and an option to license exclusive worldwide rights to selected compounds from each of these three programs.

If Dermira exercises its option for any program, it would obtain an exclusive, worldwide license to develop and commercialize selected compounds from that program for the topical treatment of dermatologic diseases. For each program, the company would also pay Takeda an option exercise fee and thereafter make potential development and regulatory milestone payments, as well as royalty payments on future worldwide net sales. Dermira will be solely responsible for further research, clinical development and commercialization costs related to these compounds.

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