Kiniksa Pharmaceuticals Ltd (NASDAQ:KNSA) and Hangzhou Zhongmei Huadong Pharmaceutical Co Ltd., a subsidiary of Huadong Medicine Co., Ltd., have announced a strategic collaboration to develop and commercialize Kiniksa's Arcalyst and mavrilimumab in the Asia Pacific Region.
- Under the terms of the collaboration, Kiniksa will receive $22 million upfront and is eligible to receive up to approximately $640 million in specified development, regulatory and sales-based milestones.
- Kiniksa is also eligible to receive tiered royalties ranging from the low-teens to the low twenties on annual net sales.
- Huadong Medicine will obtain exclusive rights and responsibility for the development and commercialization of Arcalyst and mavrilimumab in the Asia Pacific Region, including Greater China, South Korea, Australia, and 18 other countries, but excluding Japan.
- 2021 Results: The company reported Arcalyst net revenue of $18.7 million for Q4 FY21 and $38.5 million since launch on April 1, 2021.
- Kiniksa ended 2021 with $182.2 million cash and equivalents, which will be sufficient to fund its current operating plan into 2024.
- The company forecast Arcalyst FY22 sales of $115 million - $130 million.
- Price Action: KNSA shares are down 2.52% at $10.45 during the market session on the last check Tuesday.
