LIFE - aTyr gains as late-stage study for lead asset brings $10M payment
- aTyr Pharma ( NASDAQ: LIFE ) shares rose ~5% on above-average volume on Monday after announcing that its partner Kyorin has started dosing in the pivotal Phase 3 study for lead asset efzofitimod in sarcoidosis, triggering a milestone payment worth $10M.
- aTyr ( LIFE ) has inked a licensing deal with Kyorin Pharmaceutical, a subsidiary of Kyorin Holdings, to develop and commercialize efzofitimod in Japan for all forms of interstitial lung disease (ILD) including sarcoidosis.
- The deal has so far generated $20M in upfront and milestone payments for aTyr ( LIFE ). The company is eligible to receive up to $155M in additional milestone payments as well as tiered royalties on any net sales of efzofitimod in Japan.
- “We are very pleased with Kyorin’s timely start to EFZO-FIT™ and are happy to have centers open for enrollment in Japan, which is an important part of this large, global study,” Chief Executive Officer of aTyr ( LIFE ) Sanjay Shukla, remarked.
- Late last year, the company received FDA’s Fast Track Designation for efzofitimod in systemic sclerosis-associated ILD.
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aTyr gains as late-stage study for lead asset brings $10M payment