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Merck & Co., Inc.

Drug Names(s): diquafosol tetrasodium, INS365, DE-089, DIQUAS Ophthalmic Solution 3% (Japan)

Description: Prolacria stimulates the purinergic receptor P2Y (or P2ry2), a G-protien coupled receptor. This leads to an increase in intracellular calcium, triggering various reactions in the cell. The result is stimulation of the fluid pump mechanism of the accessory lacrimal glands on the conjunctival surface, Goblet cell secretion ofocular mucins, and possibly an increase in ocular lipid.

Deal Structure: Kissei and Inspire
In September 1998, Inspire entered into a Joint Development, License and Supply Agreement with Kissei related to the development of INS365 Respiratory for all therapeutic respiratory applications, excluding sinusitis and middle ear infection, in Japan. Under the terms of the Kissei Agreement, Kissei will develop, commercialize, and market INS365 Respiratory in Japan. Inspire maintains the right to manufacture and supply INS365 to Kissei. Kissei also has the first right to negotiate a license to particular P2Y2 agonist that show utility as inhalation products for respiratory uses in Japan.

Upon the signing of the Kissei Agreement, Kissei purchased 375,000 shares of Inspire's Series C Preferred for $900,000 or $2.40 per share. In addition, Inspire received a non-refundable up front license fee of $3,600,000. In addition, depending on whether all milestones are met, Inspire could receive milestone payments of up to $13,000,000 over the term of the Kissei...See full deal structure in Biomedtracker

Partners: Kissei Pharmaceutical Co., Ltd Allergan plc Santen Pharmaceutical Co., Ltd.

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