The tie up licenses Torlii Pharma for the development, marketing and distribution of Mitizax, ALK’s tablet which is indicated for the treatment of house dust allergy.
As per the terms of the agreement, Torlii Pharma is responsible to pay an upfront payment of EUR30m and EUR30m as the development and marketing registration milestone to ALK.
Torlii Pharma is also responsible to pay royalty payments and sales milestones on the net sales of the products.
Torii Pharma president Norihiko Matsuo said Torii is currently conducting a Phase III clinical study of a liquid, sublingual immunotherapy product for Japanese cedar pollen allergy.