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Ardelyx licenses cardiorenal treatment to Kyowa Hakko Kirin in Japan

Kyowa Hakko Kirin Co. Ltd. secured exclusive rights to develop and commercialize Ardelyx Inc.'s tenapanor for the treatment of heart and kidney diseases in Japan.

Ardelyx will receive $30 million up front and is eligible to receive additional development and commercialization milestones worth up to $130 million, along with high-teen royalties throughout the term of the agreement.

Tenapanor is in phase 3 development in the U.S. for the treatment of hyperphosphatemia, abnormally elevated phosphate levels in the blood, in patients with end-stage renal disease who are on dialysis.