At last check, Unicicive Therapeutics Inc. (NASDAQ: UNCY) shares were up 9.43% to $0.58 in the current market. The surge in the stock of the clinical-stage biotechnology company came on the heels of a licensing agreement with a major pharmaceutical company in Asia.
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UNCY has announced which agreement?
With Lotus Pharmaceutical, a top-tier international pharmaceutical business, Unicycive (UNCY) entered into an exclusive licensing deal. The contract for the creation and marketing of Renazorb (lanthanum dioxycarbonate) in the Republic of Korea was signed by Unicycive. The new phosphate-binding agent renazorb is being developed at UNCY to treat hyperphosphatemia in people with chronic kidney disease (CKD).
With this arrangement, UNCY will cooperate with Lotus for its second venture with Renazorb in Asia. The partnership is probably going to give UNCY the best infrastructure for advancing the development and marketing of Renazorb in the Korean market. Patients with end-stage renal disease continue to have a severe problems with hyperphosphatemia, especially given the difficulty in getting patients to take the phosphate binders that are now on the market. There is still a need for a brand-new medication with a product profile like Renazorb, which provides significant patient adherence advantages.
Renazorb distribution to patients with hyperphosphatemia across the world is one of UNCY’s main objectives, and this most recent agreement confirms UNCY’s dedication to that aim. Building on the basis of the international collaborations it has started in Asia, Unicycive is in advance conversations with possible partners in other important regions.
In its attempts to provide cutting-edge therapy choices for people with chronic conditions, Lotus teamed up with UNCY. Nephrology is one of the main therapy categories for Lotus, and a subsidiary of Lotus group, Alvogen Korea, has dominated and contributed to the nephrology industry with its other biopharmaceuticals, such as Epoetin for the treatment of CKD, which has a dominant share of around 45%. For Lotus, renazorb is anticipated to offer CKD patients in Korea yet another set of significant therapeutic advantages.
How will UNCY carry out the transaction?
The development, application for registration, and approval of Renazorb in the Republic of Korea will be handled by Lotus in accordance with the conditions of the contract. Additionally, Lotus will be solely liable for the costs associated with the importation of the medication from Unicycive (UNCY) as well as the expenditures associated with the Republic of Korea’s marketing of Renazorb. Upon achieving certain regulatory and commercial milestones, UNCY will receive an upfront payment of $750,000 along with potential milestone payments and tiered royalties totaling up to $4.45 million.
