Vertex, Ono announce license agreement for povetacicept in Japan and South Korea

Vertex Pharmaceuticals (VRTX) and Ono Pharmaceutical (OPHLY) announced an exclusive collaboration and license agreement for the development and commercialization of Vertex’s povetacicept in Japan and South Korea. Povetacicept is a recombinant fusion protein therapeutic and dual antagonist of the B cell activating factor and a proliferation inducing ligand cytokines being studied for the treatment of immunoglobulin A nephropathy, primary membranous nephropathy and other B cell-mediated diseases. Under the terms of the agreement, Vertex will receive an upfront payment, as well as certain regulatory and commercial milestone payments and tiered royalties. Ono will utilize its extensive development expertise to help advance Vertex’s clinical trials for povetacicept and will be responsible for obtaining marketing authorizations in Japan and South Korea. Following approval, Ono will be solely responsible for commercializing povetacicept in these regions. The agreement includes povetacicept for both IgAN and pMN, with the potential to add other indications.