BridgeBio rises on $100 mln license deal for drug development in Japan

Kyowa Kirin

07/02/2024 13:46

** Shares of drug developer BridgeBio  BBIO.O  rise 3.2% to
$35.11 premarket
    ** Co partners with Japanese pharma co Kyowa Kirin  4151.T 
to grant an exclusive license to develop and commercialize
experimental drug, infigratinib, in Japan 
    ** Infigratinib is a once daily oral treatment option under
development for achondroplasia, a genetic disorder that can
cause dwarfism 
    ** BBIO to receive upfront payment of $100 mln as well as
royalties on sales of the drug with potential for additional
milestone payments 
    ** Co says a global late-stage study of infigratinib testing
it to treat achondroplasia is underway with the first child
dosed in Dec. 2023
    ** BBIO shares more than doubled in the last 12 months 
    

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))