Mergers & Acquisitions ·
Mineralys terminates license with Tanabe Pharma for lorundrostat, retaining IP and milestone obligations
MLYSMineralys Therapeutics, Inc.
Mineralys Therapeutics entered into a Termination Agreement with Tanabe Pharma Corporation to end their exclusive worldwide license for the drug lorundrostat. Under the deal, Mineralys acquired full ownership of the related patents and know-how from Tanabe. Despite terminating the license, Mineralys remains obligated to pay Tanabe up to $255 million in commercial milestone payments based on sales targets, plus an additional $10 million for a second indication. The company also retained Tanabe's right of first negotiation for licensing rights specifically within Japan. This transaction allows Mineralys to control its primary asset while maintaining existing financial commitments. Mineralys Therapeutics operates as a clinical-stage biopharmaceutical company focused on developing treatments for rare diseases.