Capricor Therapeutics jumps on agreement with Nippon Shinyaku for muscle disorder therapy

Nippon Shinyaku

25/01/2022 16:42

** Shares of biotech co  CAPR.O  rise as much as 14.1% to
$3.23 in early trade, breaking its 2-day losing streak
    ** CAPR says partnering with Japanese pharma co Nippon
Shinyaku  4516.T  for commercialization and distribution of lead
drug CAP-1002 in the U.S.
    ** Shares of Nippon Shinyaku closed up 2% in Tokyo
    ** Co is testing CAP-1002 as a potential treatment for
muscle wasting disorder Duchenne muscular dystrophy (DMD)
    ** Under deal, CAPR will receive $30 million upfront and up
to $705 million in potential milestone payments
    ** Nippon Shinyaku will be responsible for distribution of
CAP-1002 in U.S. while CAPR will manufacture the drug
    ** Co also eligible to receive double-digit share of product
revenue
    ** CAPR fell ~15% in 2021

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))