UNCY - Unicycive stock rises on license deal in Korea for kidney disorder drug Renazorb

• Unicycive Therapeutics ( NASDAQ: UNCY ) signed a license agreement with Lotus Pharmaceutical to develop and commercialize Renazorb in the Republic of Korea.
• Renazorb (lanthanum dioxycarbonate) is a novel phosphate binding agent being developed by Unicycive to treat hyperphosphatemia in patients with chronic kidney disease (CKD).
• Hyperphosphatemia is a condition in which there is too much phosphate in the blood.
• Unicycive will receive an upfront fee $750K and may receive up to $4.45M in milestone payments and royalties on achievement of prespecified regulatory and commercial achievements.
• Under the agreement, Lotus will be responsible for development, registration filing and approval of Renazorb in Korea. In addition, Lotus will have sole responsibility for importing the drug product from Unicycive and for the costs of commercialization Renazorb in Korea, according to the company.
• "We are especially pleased to announce our second partnership for Renazorb in Asia and are delighted to be working with Lotus, a renowned global pharmaceutical leader," said Unicycive CEO Shalabh Gupta.
• UNCY +3.88% to $0.57 premarket Feb. 2

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