Kyowa Kirin Co., Ltd.
ROYALTY MONETIZATIONUp to $20 Million
MARKETERKYOWA KIRIN CO., LTD.
Tenapanor is a first-in-class small molecule that was discovered by Ardelyx, Inc. and is being developed for the management of hyperphosphatemia in adult patients with chronic kidney disease undergoing dialysis treatment.
HCRx purchased the right to receive all royalties and sales-based milestones due from KKC with respect to tenapanor sales in Japan. Ardelyx monetized this royalty interest in Japan to raise nondilutive capital to strengthen its financial position, providing additional capital cushion to fund its clinical and commercial operations.
Note: This transaction also appears in the Corporate Financing section under ARDELYX.