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Travere Therapeutics and Vifor Pharma Announce Licensing Agreement for the Commercialization of Sparsentan in Europe, Australia and New Zealand
Vifor Pharma obtains exclusive commercialization rights for sparsentan in Europe, Australia and New Zealand Travere receives a $55 million upfront payment and
About this update from Travere Therapeutics, Inc.
[{"type":"text","content":"Vifor Pharma obtains exclusive commercialization rights for sparsentan in Europe, Australia and New Zealand Travere receives a $55 million upfront payment and is eligible for additional regulatory and commercial milestones, as well as tiered royalties on net sales Sparsentan is a potential first-in-class treatment to address significant unmet medical needs in rare kidney disorders focal segmental glomerulosclerosis (FSGS) and IgA nephropathy (IgAN) SAN DIEGO and ST GALLEN, Switzerland, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) and Vifor Pharma today announced the companies have entered into a joint collaboration and licensing agreement for the commercialization of sparsentan in Europe, Australia and New Zealand. Sparsentan is a novel investigational product candidate currently being evaluated in pivotal Phase 3 clinical studies for the treatment of FSGS and IgAN, two rare progressive kidney disorders and leading causes of end-stage kidney disease. There are currently no approved medicines indicated for FSGS or IgAN. Sparsentan has been granted Orphan Drug Designation for the treatment of FSGS and IgAN in the U.S. and Europe. Under the terms of the agreement, Vifor Pharma will receive exclusive commercialization rights for sparsentan in Europe, Australia and New Zealand. Travere will receive an upfront payment of $55 million and be eligible for up to $135 million in payments tied to the achievement of certain regulatory and market access related milestones. Vifor Pharma will also make further payments in the form of sales milestones, and tiered double-digit royalties on net sales of sparsentan in Europe, Australia and New Zealand up to 40 percent at the high end of the royalty range. “Our goal is for sparsentan to become the new global treatment standard for people living with FSGS and IgAN; this collaboration marks an important step forward in this journey,” said Eric Dube, Ph.D., chief executive officer of Travere Therapeutics. “Vifor Pharma is a global leader in nephrology with established commercialization expertise in Europe, Australia and New Zealand and this agreement aligns our two companies with the common goal of maximizing the number of people who can access sparsentan, if approved in these regions. In addition, this collaboration will further strengthen our financial foundation and a...