Viela Bio Inc. has reached a more than $30 million deal with a Japanese pharmaceutical company to get its first product candidate to market in Asia, just days after the Gaithersburg company’s initial public offering.
The agreement allows Mitsubishi Tanabe Pharma Corp. to develop, commercialize and manufacture inebilizumab. Viela’s treatment for neuromyelitis optica spectrum disorder and other rare autoimmune and inflammatory diseases would first need to obtain regulatory approval in Asia before being made available in nine regions: Japan, Thailand, South Korea, Indonesia, Vietnam, Malaysia, Philippines, Singapore and Taiwan.
Under the transaction, Viela receives $30 million upfront, plus additional payments for an undisclosed amount based on sales revenue and other milestones.
The move, announced last week, gives Viela an automatic entry into the global market, as it simultaneously seeks approval from the Food and Drug Administration to commercialize its product in the U.S. That’s…Read the full story from the Washington Business Journal.