Shanghai Fosun Pharmaceutical (Group) Co. Ltd. secured exclusive rights to develop and commercialize Ardelyx Inc.'s drug tenapanor in China for an up-front payment of $12 million.
Ardelyx will also receive additional milestone payments up to $113 million and royalty payments on future net sales.
The drug will be commercialized for patients with irritable bowel syndrome with constipation and to treat hyperphosphatemia related to chronic kidney disease. Fosun Pharma will also commercialize the drug for other indications already approved in the U.S.
Tenapanor is an investigational oral, minimally systemic NHE3 inhibitor discovered and developed by Ardelyx.
