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Sosei Heptares to receive US$2.5 million milestone payment from Formosa Pharmaceuticals

Share this article Share this article TOKYO and CAMBRIDGE, England, March 11, 2021 /PRNewswire/ Sosei Group Corporation ( the Company ) (TSE: 4565) announces that Formosa Pharmaceuticals, Inc. ( Formosa ) has dosed the first patient in a 370-patient randomized Phase 3 clinical trial of APP13007 in the United States (ClinicalTrials.gov Identifier: NCT04739709). APP13007 is a nanoparticle formulation of a steroid in development for the treatment of inflammation and pain after cataract surgery. The milestone has triggered a US$2.5 million payment to Sosei Heptares from Formosa. APP13007 was originally designed and developed at Activus Pharma Inc. ( Activus ), formerly a wholly owned subsidiary of the Company. Activus was divested in August 2017 to Formosa, a wholly owned subsidiary of Formosa Laboratories, Inc., a leading manufacturer of Active Pharmaceutical Ingredients ( APIs ) listed on the Taiwan Stock Exchange. The divestment was part of Sosei Heptares redirected growth stra

Sosei : Heptares to receive US$2.5 million milestone payment from Formosa Pharmaceuticals