{"id":169257,"date":"2023-01-06T17:26:57","date_gmt":"2023-01-06T17:26:57","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169257"},"modified":"2023-01-06T17:26:57","modified_gmt":"2023-01-06T17:26:57","slug":"spruce-biosciences-surges-on-tie-up-with-kaken-pharma-to-develop-investigational-drug-tildacerfont","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/spruce-biosciences-surges-on-tie-up-with-kaken-pharma-to-develop-investigational-drug-tildacerfont\/","title":{"rendered":"Spruce Biosciences Surges On Tie-up With Kaken Pharma To Develop Investigational Drug Tildacerfont"},"content":{"rendered":"
Shares of Spruce Biosciences, Inc. (SPRB) are rising more than 100% Friday morning after the company announced partnership with Japan’s Kaken Pharmaceutical to develop Spruce’s investigational drug, tildacerfont, for the treatment of congenial adrenal hyperplasia (CAH).<\/p>\n
As per the deal, Spruce will receive an upfront payment of $15 million, with additional milestone payments on achieving targets. Spruce is also entitled to get double-digit royalties on net sales in Japan.<\/p>\n
“As a specialty pharmaceutical company with a strong presence in Japan, Kaken is the ideal strategic partner for the territory, and supports Spruce’s partnering strategy to develop tildacerfont in markets<\/span> outside of the United States,” said Javier Szwarcberg, Chief Executive Officer of Spruce Biosciences. <\/p>\n SPRB, currently at $2.68, has traded in the range of $0.95-$4.18 in the last 1 year. <\/p>\n