Ascendis Pharma Announces Strategic Partnership with Teijin Limited in Japan
29 Novembre 2023 - 10:30AM
Ascendis Pharma A/S (Nasdaq: ASND) today announced that the company
has entered into an exclusive license agreement with Teijin Limited
for the further development and commercialization of TransCon hGH,
TransCon PTH, and TransCon CNP for endocrinology rare disease in
Japan.
“We are pleased to partner with Teijin Pharma given their track
record of navigating regulatory approval and commercialization of
rare disease and endocrinology product candidates in Japan, and
commitment to providing best-in-class therapies,” said Jan
Mikkelsen, Ascendis Pharma’s President and Chief Executive Officer.
“We believe this collaboration is a major step in our journey to
achieve global reach for our current Endocrinology Rare Disease
portfolio by helping to address unmet medical needs of patients in
Japan.”
“Ascendis has leveraged its innovative TransCon technology
platform to create a suite of highly differentiated product
candidates with best-in-class potential that complement our
existing pharmaceutical portfolio,” said Akimoto Uchikawa, Teijin
Limited’s President and Chief Executive Officer. “We expect this
partnership will contribute a great deal to advance our healthcare
business vision to address issues of patients, families and
communities in need of more support followed by the introduction of
pharmaceuticals in rare and intractable disease areas utilizing our
business platform cultivated so far.”
Under the terms of the agreement, Ascendis will receive an
upfront payment of $70 million, with additional development and
regulatory milestones of up to $175 million, transfer pricing and
commercial milestones. In addition, Ascendis Pharma is eligible to
receive royalties on net sales in Japan, of up to mid-20’s percent,
varying by product.
About Ascendis Pharma A/SAscendis Pharma is
applying its innovative TransCon technology platform to build a
leading, fully integrated biopharma company focused on making a
meaningful difference in patients’ lives. Guided by its core values
of patients, science and passion, Ascendis uses its TransCon
technologies to create new and potentially best-in-class therapies.
Ascendis is headquartered in Copenhagen, Denmark and has additional
facilities in Germany (Heidelberg and Munich) and the United States
(Palo Alto and Redwood City, California, and Princeton, New
Jersey). Please visit ascendispharma.com to learn more.
About the Teijin GroupTeijin (TSE: 3401) is a
technology-driven global group with two core businesses:
high-performance materials and healthcare solutions. Established in
1918 as Japan’s first rayon manufacturer, Teijin today comprises
some 170 companies employing 20,000 people in 20 countries. Through
“Human Chemistry, Human Solutions,” Teijin relentlessly strives to
aims to be a company that supports the society of the future by
protecting the global environment and addressing the needs of
people and communities. Teijin posted consolidated sales of JPY
1,018.8 billion (USD 7.6 billion) and total assets of JPY 1,242.4
billion (USD 9.2 billion) in the fiscal year ending March 31, 2023.
Please visit www.teijin.com to learn more.
Forward-Looking Statements This press release
contains forward-looking statements that involve substantial risks
and uncertainties. All statements, other than statements of
historical facts, included in this press release regarding
Ascendis’ future operations, plans and objectives of management are
forward-looking statements. Examples of such statements include,
but are not limited to, statements relating to (i) Ascendis’
potential receipt of milestone and royalty payments from its
strategic partnership with Teijin, (ii) Ascendis’ ability to
achieve global reach for its current Endocrinology Rare Disease
portfolio, (iii) the best-in-class potential for Ascendis’ products
and the ability of Ascendis’ products to complement Teijin’s
existing portfolio, (iv) the ability for the partnership between
Ascendis and Teijin to advance Teijin’s healthcare business vision,
(v) Ascendis’ ability to apply its platform technology to build a
leading, fully integrated global biopharma company, and (vi)
Ascendis’ use of its TransCon technologies to create new and
potentially best-in-class therapies. Ascendis may not actually
achieve the plans, carry out the intentions or meet the
expectations or projections disclosed in the forward-looking
statements and you should not place undue reliance on these
forward-looking statements. Actual results or events could differ
materially from the plans, intentions, expectations and projections
disclosed in the forward-looking statements. Various important
factors could cause actual results or events to differ materially
from the forward-looking statements that Ascendis makes, including
the following: dependence on third party manufacturers,
distributors and service providers for Ascendis’ products and
product candidates; unforeseen safety or efficacy results in
Ascendis’ development programs or on-market products; unforeseen
expenses related to commercialization of any approved Ascendis
products; unforeseen expenses related to Ascendis’ development
programs; unforeseen selling, general and administrative expenses,
other research and development expenses and Ascendis’ business
generally; delays in the development of its programs related to
manufacturing, regulatory requirements, speed of patient
recruitment or other unforeseen delays; Ascendis’ ability to obtain
additional funding, if needed, to support its business activities;
the impact of international economic, political, legal, compliance,
social and business factors, including inflation, the effects on
its business from the worldwide COVID-19 pandemic and ongoing
conflicts such as that in the region surrounding Ukraine and
Russia. For a further description of the risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to
Ascendis’ business in general, see Ascendis’ Annual Report on Form
20-F filed with the U.S. Securities and Exchange Commission (SEC)
on February 16, 2023 and Ascendis’ other future reports filed with,
or submitted to, the SEC. Forward-looking statements do not reflect
the potential impact of any future licensing, collaborations,
acquisitions, mergers, dispositions, joint ventures, or investments
that Ascendis may enter into or make. Ascendis does not assume any
obligation to update any forward-looking statements, except as
required by law.
Ascendis, Ascendis Pharma, the Ascendis Pharma logo, the company
logo, and TransCon, are trademarks owned by the Ascendis Pharma
group. © November 2023 Ascendis Pharma A/S.
Investor Contacts:Tim LeeAscendis Pharma+1 (650)
374-6343tle@ascendispharma.comir@ascendispharma.com |
Media Contact:Melinda BakerAscendis Pharma+1 (650)
709-8875media@ascendispharma.com |
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Patti BankICR Westwicke+1 (415)
513-1284patti.bank@westwicke.com |
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