My­ovant grabs $40M up­front in re­gion­al deal for re­l­u­golix; Akero an­nounces NASH suc­cess but Covid-19 de­lays

→ Hav­ing just filed for the Eu­ro­pean ap­proval of its uter­ine fi­broids drug re­l­u­golix, My­ovant has sold the re­gion­al rights off to Hun­gar­i­an biotech Gedeon Richter. Com­pris­ing $40 mil­lion in up­front, $40 mil­lion in reg­u­la­to­ry mile­stones and $107.5 mil­lion in sales-re­lat­ed pay­ments, the deal cov­ers not just Eu­rope but al­so Rus­sia, Latin Amer­i­ca, Aus­tralia and New Zealand. My­ovant, a women’s health and prostate can­cer spin­off of Vivek Ra­maswamy’s Roivant that is now ma­jor­i­ty-owned by Sum­it­o­mo Dainip­pon Phar­ma, in-li­censed the com­pound from Take­da and finds it­self in com­pe­ti­tion with Orilis­sa from Ab­b­Vie and Neu­ro­crine.

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