PledPharma grants Solasia Asian rights to PledOx

PledPharma AB (SSE:PLED) granted Solasia Pharma K.K. (Tokyo:4597) exclusive rights to develop and commercialize PledOx calmangafodipir (PP100-01) in Japan, China, Hong Kong, Macau, South Korea and Taiwan in a deal valued at about ¥9.3 billion ($82 million). The compound is in Phase III testing to treat chemotherapy-induced peripheral neuropathy (CIPN) in patients with colorectal cancer.

PledPharma will receive an upfront payment plus milestones and royalties. Additionally, Solasia will finance an expansion of the ongoing Phase III program of PledOx to include Asian patients...