Akebia Therapeutics shares are surging more than 12 percent in early trading on Monday following an announcement by the company of a new partnership with Mitsubishi Tanabe Pharma to commercialize vadadustat in Japan and other areas in Asia. Vadadustat is Akebia’s oral treatment for chronic kidney disease (CKD)-related anemia.

About The Deal

Under the terms of the deal, Mitsubishi Tanabe will make a total of $100 million in upfront and developmental payments to support global Phase III programs for vadadustat. In addition, Akebia could receive up to $250 million in future milestone payments. That amount is certainly a large sum for Akebia, which currently has only about a $300 million market cap.

Benzinga had the chance to speak with Akebia CEO John Butler about the new deal.

What Does It Mean For Akebia?

Butler said…

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