Japanese stocks closed higher on Wednesday, on hopes of better corporate results after the International Monetary Fund raised its forecast for global growth, while shares of Nitto Denko jumped following a revision in its earnings outlook.
A vaccine candidate developed by Shionogi & Co., together with the National Institute of Infectious Diseases and other entities (Provided by Shionogi & Co.)
Japanese drugmaker Shionogi & Co. said on Tuesday it has sold the development and marketing rights for a COVID-19 treatment to California-based biotech BioAge Labs Inc.
The Japanese drugmaker said in a statement that it had discovered the drug, known as BGE-175, which was under development to treat allergic rhinitis.
BioAge will have exclusive rights to BGE-175 for the treatment of COVID-19 in the United States and Europe in exchange for an upfront payment as well as milestones and royalties.