(Reuters) – Kura Oncology said on Wednesday it will collaborate with Japan’s Kyowa Kirin to develop and commercialize the blood cancer therapy ziftomenib.
Kura will lead the development of the drug, which is currently being evaluated for the treatment of acute myeloid leukemia, a blood and bone marrow cancer that affects about 20,000 people in the United States every year.
The companies will jointly undertake commercialization activities and will equally share potential profits and losses, Kura said.
Kyowa Kirin would develop and commercialize the drug outside the United States.
Kura said it will receive an upfront payment of $330 million and up to $1.2 billion in total milestone payments as part of the deal.
Ziftomenib is currently in early-stage development. The oral drug is also being tested for other blood cancers.
(Reporting by Christy Santhosh in Bengaluru; Editing by Mohammed Safi Shamsi)
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