AnGes MG has entered into a definitive agreement with Mitsubishi Tanabe Pharma Corp. for the exclusive marketing rights to Collategene (DNA Plasmid with HGF gene), a treatment for Peripheral Arterial Disease (PAD) in the U.S. AnGes will receive upfront payments, performance based milestone payments and sales-based milestones after the product launch.
Ei Yamada, president and chief executive officer of AnGes, said, "We are pleased that we can commence the Phase III global trial of Collategene as a treatment for Critical Limb Ischemia (CLI), an intractable disease. The U.S. takes active measures toward promoting new drug development, and the country has the largest market for the drug for CLI, which cannot be treated with existing treatments. We estimate that the potential market for the drug is about $5 billion. AnGes aims to obtain the marketing approval in the U.S. at an early date by promptly advancing the development. We will definitely achieve this by establishing a cooperative structure with MTPC, a strong partner we long-sought."