By Chris Wack

Kiniksa Pharmaceuticals Ltd. said Wednesday that it has entered into a global license agreement with Genentech, a member of the Roche Group, for the rights to develop and commercialize vixarelimab, a fully human monoclonal antibody targeting oncostatin M receptor beta.

Kiniksa shares were halted at $9.97 a share in premarket trading.

Under the terms of the global license agreement, Kiniksa will receive $100 million in upfront and near-term payments and is eligible to receive up to about $600 million in certain clinical, regulatory and sales-based milestones, before fulfilling upstream financial obligations.

Kiniksa is also eligible to receive royalties on annual net sales. Genentech will obtain rights for the development and commercialization of vixarelimab.

Genentech will focus development of vixarelimab in fibrosis, where oncostatin M-mediated pathogenesis is thought to be an important pathway for intervention in multiple fibrotic indications.

Kiniksa has completed screening patients for the Phase 2b clinical trial of vixarelimab in prurigo nodularis. The company plans to complete the trial but will no longer disclose data in the second half of 2022.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

August 03, 2022 08:02 ET (12:02 GMT)

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