Years af­ter Pfiz­er passed on a buy­out op­tion, AM-Phar­ma finds a new part­ner for its kid­ney drug

A cou­ple of years ago, Pfiz­er passed on an op­tion to buy out AM-Phar­ma and its re­com­bi­nant hu­man al­ka­line phos­phatase for kid­ney fail­ure on the heels of some mixed Phase II da­ta. Now, the pro­gram has at­tract­ed a new part­ner — and an ap­proval could mean a big pay­out for AM-Phar­ma.

Tokyo-based Ky­owa Kirin is putting down $23.6 mil­lion up­front for ex­clu­sive de­vel­op­ment and com­mer­cial­iza­tion rights to ilo­fo­tase al­fa in Japan. There’s an­oth­er $148 mil­lion in biobucks on the line, adding up to a $290 mil­lion deal with “tiered dou­ble-dig­it roy­al­ties” and a drug sup­ply fee.

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