ChemoCentryx Shares Up 1.5%

ChemoCentryx shares were up over 1% Thursday after the company said it and Vifor Pharma expanded their existing kidney health alliance to include the development and commercialization of CCX140 which has completed a successful phase II clinical trial in patients with diabetic kidney disease.

The alliance will focus on the joint development of CCX140 in rare kidney diseases, with Vifor Pharma retaining an option to solely develop and commercialize it for more prevalent forms of chronic kidney disease (CKD).

Under the terms of the agreement, ChemoCentryx will retain marketing rights for rare renal disease in the U.S. and China, while Vifor Pharma will hold commercialization rights in the rest of the world. ChemoCentryx will receive an upfront cash payment of $50 million and be eligible to receive additional payments upon the achievement of certain development, regulatory and sales-based milestones, as well as tiered double-digit royalties on net sales of CCX140 in the licensed territories.

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