KYTHERA Biopharmaceuticals, Inc. ("KYTHERA") and Intendis, Bayer HealthCare's dermatology business, today announced that they have entered into a licensing agreement granting Intendis rights to KYTHERA's lead product candidate, ATX-101, outside of the US and Canada. ATX-101, a first-in-class investigational drug, is currently in clinical development for the reduction of localized fat under the chin (submental fat).
“As a business fully dedicated to dermatology, we are well aware of the changing needs that dermatologists are facing in their daily practice”
Under the terms of the agreement, KYTHERA will receive an upfront payment of $43 million and may be eligible to receive up to $330 million for certain development, manufacturing and commercialization milestones. Additionally, KYTHERA will also receive tiered double digit royalties based on net sales in Intendis' territories. The agreement encompasses all potential indications with KYTHERA to retain development and commercialization rights to ATX-101 in the US and Canada.
Intendis, Bayer HealthCare's dermatology business, will be collaborating with KYTHERA to execute the currently planned ex-US Phase 3 clinical trials that are expected to start in Europe in late 2010.