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news.Shionogi & Co has entered into an exclusive license agreement to develop and commercialize BioCryst's drug, peramivir, in Japan for the treatment of human influenza.
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Peramivir is a member of the class of antiviral agents that inhibit influenza viral neuraminidase, an enzyme that is essential for the spread of influenza virus within the host.
“We believe Shionogi is the ideal partner to help bring our lead antiviral, peramivir, through development and to the market in Japan. We expect that this collaboration will accelerate the development and commercialization process in Japan,” said Jon Stonehouse, CEO of BioCryst.
“Additionally, BioCryst and Shionogi will collaborate to evaluate other injectable formulations of peramivir.”
Under the terms of the agreement Shionogi will obtain rights to injectable formulations of peramivir in Japan in exchange for a $14 million up-front payment. BioCryst may also receive future clinical event milestone payments of up to $21 million and commercial event milestone payments of up to $95 million, in addition to double digit royalty payments on product sales of peramivir.
In January, BioCryst was awarded a $102.6 million, four-year contract by the US Department of Health and Human Services for advanced development of peramivir toward US licensure.
BioCryst retains all rights to commercialize peramivir in North America, Europe, and other countries outside of Japan and Korea.