Under the agreement, AnGes will receive upfront payments, performance based milestone payments and payments after the product launch in accordance with its sales.
AnGes president and CEO Ei Yamada said the company is pleased to announce that the company can commence the Phase III global clinical trial of Collategene as a treatment for critical limb ischemia (CLI), an intractable disease.
"The United States takes active measures toward promoting new drug development, and the country has the largest market for the drug for CLI which cannot be treated with existing treatments," Yamada added.
"AnGes aims to obtain the marketing approval in the United States at an early date by promptly advancing the development.
"We will definitely achieve this by establishing a cooperative structure with MTPC, a strong partner we long-sought."