Thinly traded nano cap aTyr Pharma (NASDAQ:LIFE) jumps 57% premarket on increased volume in reaction to its collaboration and license agreement with Kyorin Holdings (OTC:KYRNF) unit Kyorin Pharmaceutical Co., Ltd. for the development and commercialization of lead candidate ATYR1923 in Japan for the treatment of interstitial lung diseases.
Under the terms of the deal, it will receive $8M upfront, up to $167M in milestones and tiered royalties on net sales in Japan. In exchange, Kyorin will receive exclusive in-country rights to the NRP2-modulating fusion protein for the indication.
Kyorin will fund all R&D, regulatory and commercialization activities while aTyr will supply product and support development efforts.
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