Business
Capricor Therapeutics and Nippon Shinyaku Enter Partnership for Exclusive Commercialization and Distribution of CAP-1002 for the Treatment of Duchenne Muscular Dystrophy in Japan
-Expands Partnership with Nippon Shinyaku to Japan to Leverage Deep Experience in Drug Development for Rare Diseases and Commercial DMD Franchise- -Capricor
About this update from Capricor Therapeutics, Inc.
[{"type":"text","content":"-Expands Partnership with Nippon Shinyaku to Japan to Leverage Deep Experience in Drug Development for Rare Diseases and Commercial DMD Franchise- -Capricor to Receive an Upfront Payment of $12 Million, Additional Potential Milestone Payments of up to $89 Million as well as Meaningful Double-Digit Percentage of Revenue Based on Product Sales- SAN DIEGO, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Capricor Therapeutics (NASDAQ: CAPR), a biotechnology company focused on the development of transformative cell and exosome-based therapeutics for the treatment and prevention of muscular and other select diseases, announced today that it has entered into a partnership with Nippon Shinyaku Co., Ltd., a Japanese pharmaceutical company listed on the TYO, for the exclusive commercialization and distribution in Japan of Capricor’s lead asset, CAP-1002, for the treatment of Duchenne muscular dystrophy (DMD), a rare neuromuscular disease with limited treatment options. This follows the exclusive Commercialization and Distribution Agreement entered into with Nippon Shinyaku in the United States in January 2022. “Nippon Shinyaku is a proven leader in developing therapeutics for rare diseases, specifically DMD, and an ideal partner for us to maximize the opportunity with CAP-1002 in Japan and the U.S.,” said Dr. Linda Marbán, CEO of Capricor. “With the addition of non-equity capital from this transaction, we are well positioned to advance and execute on our milestones including the execution of the HOPE-3 Phase 3 trial in the United States. CAP-1002 has shown clinical benefits for both the cardiac and skeletal muscle myopathy, which few therapies have demonstrated. The data from our recently announced 18-month HOPE-2 open label extension study showed evidence of disease modification and showed statistically significant differences in the Performance of the Upper Limb (PUL). This continues to build upon CAP-1002’s safety and efficacy profile and to potentially establish it as an anchor therapy for DMD patients. Furthermore, we remain committed to securing strategic partners that will further strengthen our balance sheet and help us achieve our goal of bringing our therapies to the global patient community as quickly as possible.” Under the terms of the agreement, Capricor will receive an upfront payment of $12 million and in addition, Capricor will potenti...