Pfizer licenses Theravance’s JAK inhibitors for skin conditions

Theravance Biopharma (NASDAQ:TBPH) enters a global license pact with Pfizer (NYSE:PFE) for Theravance’s preclinical program for skin-targeted, locally-acting pan-Janus kinase (JAK) inhibitors that can be rapidly metabolized.

Theravance will get up an upfront cash payment of $10M and will be eligible for up to an additional $240M in development and sales milestone payments from Pfizer.

In addition, Theravance Biopharma will be eligible to receive royalties on worldwide net sales of any potential products emerging from the program.

Pfizer gains 0.4% in premarket trading.

https://seekingalpha.com/news/3528110-pfizer-licenses-theravances-jak-inhibitors-for-skin-conditions