[MannKind] – Valencia-based pharmaceutical developer MannKind Corp. said Monday it has signed an agreement worth $130 million with Salt Lake City-based Tolero Pharmaceuticals to develop and commercialize certain compounds MannKind is developing currently being developed to treat hematological malignancies and inflammatory diseases.
Under the agreement, Tolero will make up-front payments and additional payments as specified milestones are achieved. MannKind would also receive tiered royalties on the eventual sale of products.
The compounds are associated with MannKind’s BTK (Bruton’s tyrosine kinase) program. MannKind retains the option to reaquire control over the program, in which case Tolero would be entitled to royalties.
“BTK currently represents one of the most exciting therapeutic targets in oncology, and we feel that our collaborative approach to targeting BTK may uncover some novel utilities not yet fully realized,” said Tolero President Dallin Anderson.
Tolero focuses on the discovery and development of novel therapeutics to treat cancer and other serious human diseases. MannKind focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes and cancer.