Alumis, Kaken Pharmaceutical enter ESK-001 collaboration and licensing agreement

Alumis (ALMS) and Kaken Pharmaceutical announced that the companies have entered into a collaboration and licensing agreement to develop, manufacture and commercialize ESK-001, a highly selective, next-generation oral tyrosine kinase 2 inhibitor, for dermatology indications in Japan, with the option to expand the license to include rheumatological and gastrointestinal diseases. Under the terms of the agreement, Alumis will receive $40M in upfront and near-term co-development payments in 2025 to 2026, with the potential to earn up to approximately $140M in additional payments based on the achievement of milestones, and field option payments. Alumis is also eligible to receive tiered royalties ranging from the low double-digits into the twenties on aggregate net sales of ESK-001 in Japan. Kaken will be responsible for the clinical development, regulatory approvals and commercialization of ESK-001 in Japan, and Alumis will retain rights to ESK-001 in all other geographies. Kaken will also contribute to a portion of the global development costs of ESK-001.