CBAY - CymaBay join hands with Kaken to develop commercialize Seladelpar

• CymaBay Therapeutics ( NASDAQ: CBAY ) has entered into a collaboration and license pact with Kaken Pharmaceutical for the development and commercialization in Japan of CymaBay's investigational drug seladelpar for the treatment of primary biliary cholangitis.
• The advances strategy to partner seladelpar for PBC outside U.S.
• Per the terms, Kaken receives an exclusive license to develop, commercialize and market seladelpar in Japan for PBC.
• The move brings in ~$34.0M upfront payment to CymaBay, with additional potential milestone payments to CymaBay totaling up to ~$128.4M, for the achievement of certain regulatory and sales milestones in addition to 20+% royalties.
• Kaken will be responsible for development, regulatory approval and commercialization of seladelpar in Japan.
• At present, Japan represents an important market with no currently approved second line treatment .
• Shares are down 1.52% after-hours.

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