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news.TPG Biotech and JCR Pharmaceuticals have entered into an investment agreement to fund the late-stage clinical development of JCR's two promising drug candidates, JR-013 and Growject.
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JR-013 is a recombinant human erythropoietin for the treatment of renal anemia in dialysis patients and Growject is currently approved and marketed in Japan to treat short stature in children with growth hormone deficiency and Turner’s syndrome.
Under the terms of the agreement, TPG Biotech will fund the development of the drugs, and in return will receive milestone payments, royalties and warrants to purchase JCR’s common stock.
Shin Ashida, chairman and CEO of JCR, said: “We welcome the investment by TPG Biotech. Their support will allow us to produce these needed drugs quickly and efficiently and bring them to market.”