UNION therapeutics and Innovent Biologics enter into strategic collaboration and license agreement for orismilast, a next-generation PDE4 inhibitor for inflammatory dermatology conditions
· Orismilast is a potential best-in-class PDE4 inhibitor in Phase 2 clinical development for the treatment of atopic dermatitis, psoriasis, and hidradenitis suppurativa · Innovent will be granted exclusive rights to research, develop and commercialize orismilast in China (including Mainland China, Hong Kong, Macau and Taiwan) · UNION will receive USD 20 million upfront and be entitled to receive additional milestone payments of up to USD 247 million as well as tiered royalties on sales of orismilast in China Hellerup, Denmark, San Francisco, U.S. and Suzhou, China, 28 September