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news.Tolero Pharmaceuticals and MannKind have signed a licensing agreement to develop and commercialize Bruton's tyrosine kinase (BTK) inhibitors for hematological malignancies and inflammatory diseases.
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As a part of the agreement, MannKind is eligible to receive upfront and milestone payments of approximately $130m, linked to the development, approval and commercialization of products, from Tolero.
Tolero chairman and president Dallin Anderson said, "BTK currently represents one of the most exciting therapeutic targets in oncology, and we feel that our collaborative approach to targeting BTK may uncover some novel utilities not yet fully realized."
MannKind will also receive tiered royalties on sales of products, a percentage of sublicensing revenue and has an option to re-acquire the rights to the program at pre-specified terms until 60 days after the conclusion of the first Phase I study.
MannKind would presume responsibility for developing and commercializing products, if the company exercises the option, and Tolero would be permitted to receive the milestone payments, royalties and sublicensing revenues specified in the agreement.