Under the licensing agreement, Ono is responsible for developing and commercializing subcutaneous Relistor in Japan, including conducting the clinical development necessary to support regulatory marketing approval. Progenics will receive a $15 million upfront payment from Ono, with up to an additional $20 million payable upon achievement of development milestones.
Further, Ono will pay to Progenics royalties and commercialization milestones on sales by Ono of subcutaneous Relistor in Japan. Ono also has the option to acquire from Progenics the rights to develop and commercialize in Japan other formulations of Relistor, including intravenous and oral forms, on terms to be negotiated separately.
Relistor is being developed and commercialized in the rest of the world by Progenics and Wyeth Pharmaceuticals, a division of Wyeth.
Paul Maddon, founder, CEO and chief science officer of Progenics, said: “Ono’s expertise in developing drugs for the Japanese market enhances Relistor’s opportunity for commercial success there. Together, our companies are committed to bringing this therapy to the many patients in Japan who suffer from the debilitating side effects of opioid pain medications.”