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news.Keryx Biopharmaceuticals' partners Japan Tobacco (JT) and JT's pharmaceutical business subsidiary, Torii Pharmaceutical have started a Phase 3 clinical trial in Japan to evaluate ferric citrate to treat patients with hyperphosphatemia.
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Earlier in September 2007, Keryx sublicensed the exclusive rights for the development and commercialization of hyperphosphatemia drug Zerenex (ferric citrate) to JT and Torii in Japan.
As a result of initiation of the Phase 3 trial, JT/Torii are responsible to pay a non-refundable milestone payment of $5m to Keryx for the achievement of this milestone.
Keryx CEO Ron Bentsur said they congratulate JT/Torii, on the initiation of the Phase 3 program in Japan and are excited by their progress.
"We believe that this serves to further validate the commercial potential for Zerenex worldwide," Bentsur said.