On September 19, 2017 Taiho Pharmaceutical Co., Ltd. announced today that it has entered into an option and license agreement with Arcus Biosciences, a US-based biotechnology company focused on the discovery and development of innovative cancer immunotherapies (Press release, Taiho, SEP 19, 2017, View Source [SID1234527696]).

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Based on the terms of the agreement, Taiho will provide a $35mm payment to Arcus. In return for the payment, Taiho will receive an option to in-license the development and commercialization rights of product candidates in Arcus’s portfolio in Japan and certain other territories in Asia (excluding China). For any product candidate for which Taiho exercises a license, Taiho will need to provide option payments in development, regulatory and commercial milestones per molecule. Taiho is also need to pay royalties on the net sales of each product candidate that Taiho commercializes in its regions.

Taiho will attempt to continue delivering innovative new drugs to patients and medical professionals