- Spruce Biosciences ( NASDAQ: SPRB ) on Thursday said it had entered into a licensing agreement with Japan's Kaken Pharmaceutical ( OTCPK:KKPCF ) to develop and commercialize its therapy tildacerfont for the treatment of congenial adrenal hyperplasia (CAH).
- CAH is a group of genetic disorders that affect the adrenal glands, which produce important hormones.
- "Kaken will be responsible for the clinical development and commercialization of tildacerfont in Japan, and Spruce will retain all rights to tildacerfont in all other geographies," SPRB said in a statement .
- As per the agreement, SPRB will get an upfront payment of $15M from Kaken and will be eligible to get additional milestone payments as well as royalties on sales in Japan.
- Shares of Spruce Biosciences ( SPRB ) jumped more than 50% after hours.
For further details see:
Spruce Biosciences shares jump +50% on licensing deal with Japan's Kaken Pharma