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Cytokinetics Inc Enters Into Collaboration And License Agreement With Astellas Pharma Inc.-Form 8-K


Tuesday, 25 Jun 2013 07:09am EDT 

Cytokinetics Inc reported in its Form 8-K that on June 21, 2013, Cytokinetics, Incorporated (Company) entered into a Collaboration and License Agreement with Astellas Pharma Inc. (Astellas). The primary objective of the collaboration to be conducted under the Agreement is to advance therapies for diseases and medical conditions associated with muscle weakness. Under the Agreement, Cytokinetics granted Astellas an exclusive license to co-develop and commercialize CK-2127107, a fast skeletal troponin activator drug candidate, for potential application in non-neuromuscular indications worldwide. CK-2127107, which is currently in Phase I clinical development, will be developed jointly by Cytokinetics and Astellas. Cytokinetics will be primarily responsible for the conduct of Phase I clinical trials and certain Phase II readiness activities for CK-2127107 and Astellas will be primarily responsible for the conduct of subsequent development and commercialization activities for CK-2127107. Cytokinetics will receive an upfront payment of $16 million in connection with the execution of the Agreement, and is eligible to potentially receive over $24 million in reimbursement of sponsored research and development activities during the initial two years of the collaboration. 

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1702.5
47.5 +2.87%
19 Dec 2014