Cantargia receives an upfront cash payment of USD 33 million.
Cantargia is eligible to receive up to USD 580 million in development, regulatory and commercial milestone payments plus earn-out payments from global product sales.
Otsuka Pharmaceutical obtains worldwide rights for the development and commercialization of the CAN10 program.
LUND, SE / ACCESS Newswire / July 15, 2025 / Cantargia AB (publ) (Cantargia) (Nasdaq Stockholm:CANTA) today announced that it has entered into an agreement with Japanese healthcare company Otsuka Pharmaceutical Co., Ltd. (Otsuka Pharmaceutical) pursuant to which Otsuka Pharmaceutical will acquire all Cantargia's assets related to its early-clinical stage CAN10 program. Upon closing of the transaction, Cantargia will receive a USD 33 million upfront cash payment and is eligible to up to additional USD 580 million in milestone payments. Cantargia is also entitled to up to double digits tiered earn-out payments from global product sales. The transaction, subject to customary closing conditions and regulatory approval, is expected to close in the third quarter of 2025.
Otsuka Pharmaceutical will be fully responsible for the development and commercialization of CAN10 globally. Otsuka Pharmaceutical will direct and perform all future development, apply for regulatory approvals and exclusively carry out manufacturing and sales of the product worldwide. In addition to the CAN10 antibody, Otsuka Pharmaceutical acquires 3G5 [1] as a backup antibody and will also have exclusive first rights of negotiation regarding the next-generation IL-1RAP antibodies to be developed by Cantargia for a period of 2 years.
CAN10 is an antibody against IL1RAP designed to potently inhibit the activity of the pro-inflammatory and disease promoting cytokines of the IL-1-super family: IL-1, IL-33 and IL-36. CAN10 is currently being evaluated in an ongoing phase 1 clinical trial.
"This is a transformative transaction for Cantargia, and we hope for millions of patients suffering from severe immune inflammatory disorders." said Cantargia's Interim Chief Executive Officer Damian Marron. "We are delighted that the strong potential of our CAN10 anti-IL1RAP antibody has been recognised by Otsuka Pharmaceutical. It demonstrates confidence in the strength of our world leading position in IL1RAP biology and antibodies and will allow us to drive forward our platforms and programs in oncology and other diseases."
Makoto Inoue, President and Representative Director of Otsuka Pharmaceutical Co., Ltd., commented, "Otsuka Pharmaceutical is expanding its research and development pipeline in the field of autoimmune diseases by leveraging the antibody drug platform of our U.S. subsidiary, Visterra, and the low-molecular-weight drug discovery platform of our U.S. subsidiary Jnana Therapeutics. This will further expand and accelerate our research and development portfolio targeting various pathways associated with autoimmune diseases, enabling us to contribute to the lives of more patients."
[1] 3G5 is a pre-clinical IL1RAP targeting antibody which is similar to CAN10.
For further information, please contact
Damian Marron, Interim CEO
Telephone: +46 (0)46-275 62 60
E-mail: damian.marron@cantargia.com
This information is information that Cantargia is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-15 08:45 CEST.
About Cantargia
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases and has established a platform based on the protein IL1RAP, involved in a number of cancer forms and inflammatory diseases. Cantargia's oncology program, the antibody nadunolimab (CAN04), is being studied clinically, primarily in combination with chemotherapy with a focus on pancreatic cancer, non-small cell lung cancer and triple-negative breast cancer. Positive data for the combinations indicate stronger efficacy than would be expected from chemotherapy alone. Cantargia's second development program, the antibody CAN10, blocks signaling via IL1RAP in a different manner than nadunolimab and addresses treatment of serious autoimmune/inflammatory diseases, with initial focus on hidradenitis suppurativa and systemic sclerosis.
Cantargia is listed on Nasdaq Stockholm (ticker: CANTA). More information about Cantargia is available at www.cantargia.com .
About CAN10
The CAN10 antibody binds strongly to its target IL1RAP and has a unique capability to simultaneously inhibit signaling of the cytokines of the IL1-super family via IL-1, IL-33 and IL-36. Inhibition of these signals can be of significant value in the treatment of several inflammatory or autoimmune diseases. In preclinical in vivo models of inflammatory diseases, such as systemic sclerosis, psoriasis, psoriatic arthritis, atherosclerosis, myocarditis and peritonitis, a CAN10 surrogate antibody significantly reduced the development of the disease. A clinical phase 1 study, investigating CAN10 in healthy volunteers and psoriasis patients, is ongoing.
About Otsuka Pharmaceutical
Otsuka Pharmaceutical Co., Ltd. is a total healthcare company that focuses on each individual's potential to enhance their well-being. Our medical-related business provides treatments and diagnostics for both physical and mental health. Our nutraceutical business supports daily health maintenance and improvement. Otsuka's unique products and services are based on scientific evidence, under the guidance of our corporate philosophy: Otsuka-people creating new products for better health worldwide.
For further information, please visit www.otsuka.co.jp/en/
Attachments
Cantargia announces the acquisition of its CAN10 IL1RAP immunology program by Otsuka Pharmaceutical
SOURCE: Cantargia
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/cantargia-announces-the-acquisition-of-its-can10-il1rap-immunology-pr-1048810
