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Aslan buys full global rights to skin disease drug from CSL

Aslan Pharmaceuticals Ltd. said it acquired from CSL Ltd. the full global rights to develop, manufacture and commercialize ASLAN004 in all indications.

Under the deal, CSL will get a payment worth $30 million on the initiation of a late-stage study for ASLAN004. The Australian company could also receive up to $95 million in regulatory milestone payments, along with $655 million of sales milestones and tiered royalties on net sales between mid-single digits and 10%.

The original May 2014 licensing agreement granted Aslan the rights to develop, manufacture and commercialize ASLAN004 for treating asthma.

Initially, the Singapore-based company was responsible for the proof-of-concept study of the drug and the identification of a partner to complete its late-stage development and commercialization. CSL was then eligible to get between 40% and 50% of the drug's revenues, including proceeds from out-licensing deals.

Aslan is evaluating the drug in an early-stage study for atopic dermatitis, a chronic inflammatory disease which causes red inflamed skin with severe daytime and night-time itching. The company plans to launch a multiple ascending dose study to assess the ASLAN004 in moderate to severe atopic dermatitis patients in the second half of 2019.