ChemoCentryx Inc (NASDAQ:CCXI) shares continued to trade higher and closed 53.58% up to $4.60 on Wednesday, as the company granted marketing rights for CCX168 to Vifor Pharma.
ChemoCentryx Inc (NASDAQ:CCXI) has been developing CCX168 for the treatment of conditions including but not limited to anti-neutrophil cytoplasmic antibody (ANCA)-associated vasculitis (AAV). This has already received orphan drug status in Europe and the United States, as the disease affects more than 75,000 in Europe and approximately 45,000 people in the US. In addition, around 4,000 new cases in the US and 7,500 in Europe are reported each year.
ChemoCentryx Inc (NASDAQ:CCXI) is a biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. Each of its drug candidates, such as CCX140, CCX872, and CCX168 comprise a small molecule designed to target a specific chemokine or chemoattractant receptor, thereby blocking the inflammatory response driven by that particular chemokine while leaving the rest of the immune system unaffected.
Under the terms of its agreement with Vifor Pharma, ChemoCentryx will receive a cash upfront payment of $60 million and a $25 million equity investment to purchase ChemoCentryx common stock at $7.50 per share. Vifor Pharma has licensed rights to commercialize CCX168 in Europe, Canada, Mexico, South Korea, and Central and South America.
The company is also eligible to receive additional payments on the achievement of certain regulatory and sales-based milestones. With their agreement with Vifor Pharma, a larger health alliance in treating kidney diseases could be formed. Vifor Pharma has also obtained the exclusive option to negotiate a worldwide license agreement for CCX140, orally-administered inhibitor of the chemokine receptor known as CCR2 also developed by ChemoCentryx Inc (NASDAQ:CCXI).
CCX168 will undergo its Phase 3 study in the treatment of AAV later this year. This drug is also in development for other rare renal diseases, which includes atypical hemolytic uremic syndrome (aHUS) and immunoglobulin A nephropathy, or IgA nephropathy.
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