Ardelyx (NASDAQ:ARDX) +9.1% after-hours on news it is expanding its partnership with Kyowa Kirin (OTCPK:KYKOF) through two new agreements and receiving a $20M equity investment from the Japanese biopharma company.
The companies establish a two-year research collaboration to advance two of ARDX’s research programs focused on the identification and design of compounds to two undisclosed targets; Kyowa Kirin will pay $10M to ARDX to support the ongoing research.
Kyowa Kirin will have the option to license any candidates nominated by the companies for further development and commercialization in certain territories.
The two companies initially established a partnership in 2017 through a license agreement that provided Kyowa Kirin with exclusive rights to develop and commercialize ARDX’s lead investigational product tenapanor for the treatment of cardiorenal diseases in Japan.
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