Astria Therapeutics Licenses Japan Rights To Navenibart In $16 Mln Deal

(RTTNews) - Astria Therapeutics (ATXS), Wednesday announced has granted exclusive development and commercialization rights in Japan for its investigational therapy navenibart to Kaken Pharmaceutical.

Navenibart, a long-acting monoclonal antibody in Phase 3 trials, is designed for the preventative treatment of hereditary angioedema.

Under the agreement, Astria will receive an upfront payment of $16 million, with the potential for another $16 million in milestone payments, along with tiered royalties of up to 30 percent and partial cost reimbursement for Phase 3 development.

Kaken will support the ongoing ALPHA-ORBIT Phase 3 trial in Japan, manage regulatory submissions, and help prepare for commercialization. Astria expects the funding from this agreement to support its operations into 2028.

ATXS is currently trading at $6.99, down $0.03 or 0.43 percent on the Nasdaq.