CRNX - Crinetics Sanwa ink licensing deal for cancer/hormonal disorder drug in Japan

Crinetics Pharmaceuticals (NASDAQ:CRNX) and Japna's Sanwa Kagaku Kenkyusho are collaborating to exclusively develop and commercialize Crinetics' investigational drug paltusotine in Japan. Paltusotine is being evaluated to treat acromegaly and neuroendocrine tumors (NETs), including NETs complicated by carcinoid syndrome. Acromegaly is a hormonal disorder that develops when the pituitary gland produces excessive growth hormone during adulthood, causing increase in the size of the bones of hands, feet and face. NETs are cancers that begin in neuroendocrine cells, which have traits similar to nerve and hormone-producing cells. Under the agreement, Crinetics will receive $13M upfront and will be eligible to receive milestone payments related to certain development, regulatory and commercial goals; and royalties on net product sales. Sanwa will have an exclusive right to develop and commercialize the product in Japan and will be responsible for leading the development and commercialization of paltusotine for acromegaly and NETs in Japan. Sanwa will also assume all

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Crinetics, Sanwa ink licensing deal for cancer/hormonal disorder drug in Japan