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.