United Therapeutics Corporation gained North American licensing rights to a lung disease drug from San Diego’s Samumed in a deal announced Sept. 17.
Samumed will receive $10 million up-front from United, along with potentially up to $340 million in development milestones, as well as royalties on sales.
Under the agreement Maryland-based United will take over development, regulatory activities and commercialization of Samumed’s SM04646, undergoing a phase 1 clinical trial for idiopathic pulmonary fibrosis.
The disease causes scarring of the lungs. Patients become progressively shorter of breath and may need a lung transplant.
United’s rights extend to the U.S. and Canada. Samumed would hang onto markets outside of North America.
Samumed in August announced that it had raised $438 million, bringing its fundraising total to more than $650 million.