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Dainippon Sumitomo Enters into a Licensing Agreement for a Treatment for Chronic Liver Disease

Mar. 29, 2011

Dainippon Sumitomo has entered into an exclusive licensing agreement with Intercept Pharmaceuticals for the development and commercialization of the latter's obeticholic acid, a first-in-class FXR agonist for the treatment of chronic liver diseases in China and Japan. Under the terms of the agreement, Intercept will receive an initial payment of $15 million from DSP and will be eligible to receive approximately $300 million in additional milestone payments associated with the successful development and commercialization of the drug.