Unicycive Inks Licensing Pact For Its Kidney Disease Candidate In China

Unicycive Therapeutics Inc UNCY has entered into an agreement granting exclusive rights of Renazorb (lanthanum dioxycarbonate) to Lee's Pharmaceutical Holdings Limited in Mainland China, Hong Kong, and certain other Asian markets.
Renazorb is a phosphate binding agent developed for hyperphosphatemia in chronic kidney disease (CKD) patients.
Hyperphosphatemia is a serious medical condition occurring in nearly all patients with End Stage Renal Disease (ESRD).
Under the terms of the agreement, Lee Pharm will be responsible for the development, registration filing, and approval of Renazorb in the licensed territories.
In addition, Lee Pharm will have sole responsibility for importing the drug product from Unicycive and for the costs of commercialization of Renazorb in the licensed territories.
Unicycive will receive an upfront payment of $1.0 million upon signature and up to $1.0 million in milestone payments upon product launch in China and will be eligible for tiered royalties upon achievement of pre-specified regulatory and commercial achievements.
The incidence and prevalence of ESRD in China were projected to increase by 1.19 and 1.95 % annually and were expected to reach 250.5 per million people and 1505 by 2025.
Price Action: UNCY shares closed 3.09% lower at $0.80 on Friday.