Business
Akili & Shionogi Deal in Taiwan/Japan $20M upfront
Akili & Shionogi Deal in Taiwan/Japan $20M upfront.
About this update from Puretech Health Plc
[{"type":"text","content":"\n \nRNS Number : 1017S PureTech Health PLC 07 March 2019 \n\n7 March 2019\n \nPureTech Health plc\n \nPureTech's Independent Affiliate Akili Announces Partnership with Shionogi to Develop and Commercialise Digital Therapeutics in Certain Asian Markets\n \nAkili receives upfront payments totalling $20 million and has the potential to receive milestone payments for Japan and Taiwan commercialisation of up to an additional $105 million, in addition to substantial royalties on product sales\n \nAkili maintains exclusive global rights to develop and commercialise AKL-T01 and AKL-T02 in all territories outside of Japan and Taiwan\n \nPureTech Health plc (LSE: PRTC) (\"PureTech Health\"), an advanced biopharmaceutical company developing novel medicines for dysfunctions of the Brain-Immune-Gut (BIG) axis, today announced that its independent affiliate Akili has entered into a strategic partnership with Shionogi & Co., Ltd. for the commercialisation of two of Akili's digital medicine product candidates, AKL-T01 and AKL-T02, in Japan and Taiwan. AKL-T01 is currently under review with the US Food and Drug Administration (FDA) as a potential digital treatment for children with attention-deficit/hyperactivity disorder (ADHD), and AKL-T02 is in late-stage development as a potential digital treatment for cognitive function and related symptoms in children with Autism Spectrum Disorder (ASD). Under the terms of the agreement, Akili receives upfront payments totalling $20 million with potential milestone payments for Japan and Taiwan commercialisation of up to an additional $105 million in addition to substantial royalties. Shionogi will also help fund development costs and commits to a future equity investment in Akili. Akili will maintain exclusive global rights to develop and commercialise AKL-T01 and AKL-T02 in all territories outside of Japan and Taiwan.\n \nBharatt Chowrira, JD, PhD, President and Chief of Business & Strategy at PureTech Health, said: \"Akili has made excellent progress advancing its pipeline of digital medicines through the clinic, with one product candidate under FDA review and several others entering mid- and late-stage development. As Akili prepares for the potential commercialisation of these first-in-class treatments, we're pleased they have chosen to partner with Shionogi...