Theravance Biopharma And Pfizer Inc. Enter Global License Agreement For Skin-Targeted, Locally-Acting Pan-Janus Kinase Inhibitor Program; Theravance To Receive Upfront Cash Payment Of $10M And Up To $240M In Milestones

Topically-Applied, Skin-Selective Pan-JAK Inhibitors Specifically Designed to Target Pro-Inflammatory Pathways with Minimal Systemic Exposure DUBLIN and NEW YORK, Dec. 23, 2019 /PRNewswire/ -- Theravance Biopharma

Benzinga · 12/23/2019 13:18

Topically-Applied, Skin-Selective Pan-JAK Inhibitors Specifically Designed to Target Pro-Inflammatory Pathways with Minimal Systemic Exposure

DUBLIN and NEW YORK, Dec. 23, 2019 /PRNewswire/ -- Theravance Biopharma Ireland Limited, a subsidiary of Theravance Biopharma, Inc. (NASDAQ:TBPH) ("Theravance Biopharma") and Pfizer Inc. (NYSE:PFE) ("Pfizer") today announced that the companies have entered into a global license agreement for Theravance Biopharma's preclinical program for skin-targeted, locally-acting pan-Janus kinase (JAK) inhibitors that can be rapidly metabolized. The compounds in this program target validated pro-inflammatory pathways and are specifically designed to possess skin-selective activity with minimal systemic exposure.

Under the terms of the agreement, Theravance Biopharma will receive an upfront cash payment of $10 million and will be eligible to receive up to an additional $240 million in development and sales milestone payments from Pfizer. In addition, Theravance Biopharma will be eligible to receive royalties on worldwide net sales of any potential products emerging from the program.