TissueGene licensee Kolon Life Science (KSDQ:102940) of Korea said this week that it inked a deal with Japan’s Mitsubishi Tanabe Pharma Corp. (TYO:4508) to develop and commercialize Kolon’s Invossa, the 1st cell-mediated gene therapy injection for degenerative osteoarthritis for the Japanese market.
The deal represents the largest single-territory deal on record for Korea, according to Kolon Life Science. According to the agreement, Mitsubishi Tanabe will pay $24 million up front, plus additional payments of up to $410 million pending development, regulatory and commercial milestones, as well as a double-digit sales royalty.
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