Astria Therapeutics licenses navenibart rights in Japan to Kaken Pharmaceutical

Astria Therapeutics (ATXS) announced that it has exclusively licensed development and commercialization rights in Japan to Kaken Pharmaceutical, a Japanese specialty pharmaceutical company, for navenibart, a long-acting investigational monoclonal antibody inhibitor of plasma kallikrein, in Phase 3 development for the preventative treatment of hereditary angioedema. Under the agreement, Astria will receive an upfront payment of $16M, with the potential for an additional $16M in total commercialization and sales milestones. In addition to these payments, Astria is also eligible for tiered royalties with the royalty rate as a percentage of net sales up to 30%, and partial Phase 3 cost reimbursement. Kaken will also provide support for the ALPHA-ORBIT Phase 3 trial in Japan, be responsible for regulatory submissions in Japan, and will reimburse Astria for a portion of the costs of the navenibart Phase 3 program. Including the upfront payment from Kaken and the expected reimbursement by Kaken of a portion of the company’s Phase 3 program costs, the company expects that its cash, cash equivalents and short-term investments will be sufficient to fund its current operating plan into 2028.