BridgeBio Pharma, Inc. (NASDAQ: BBIO) witnessed a notable resurgence in its stock performance on the US market indices in the previous trading session. Demonstrating a robust recovery, BridgeBio’s shares soared by 5.87% to $35.54 during after-market trading, effectively counterbalancing the 5.83% dip observed in the regular session, with the closing figure settling at $33.57. This surge in BBIO stock value can be attributed to the recent strategic collaboration struck by the company.
A recent event that represents a turning point for both organizations is that BridgeBio (BBIO) and Kyowa Kirin Co. engaged into a major cooperation. This deal gave Kyowa Kirin the sole right to develop and market infigratinib, a promising oral small molecule that targets FGFR3-driven skeletal dysplasias, including achondroplasia and hypochondroplasia, in the Japanese market. The agreement was made by BridgeBio’s subsidiary, QED Therapeutics.
As part of the partnership, BridgeBio will receive an upfront payment of USD 100 million in addition to royalty considerations that could total up to 20 percent of infigratinib sales in Japan. These payments might also be contingent upon certain milestones being met.
The decision to partner with Kyowa Kirin aligns with BridgeBio’s overarching mission to serve communities by delivering innovative medicines with transformative impacts on individuals’ lives, evident in their successful commercialization endeavors such as Crysvita and other rare disease treatments.
By leveraging Kyowa Kirin’s expertise and resources, BridgeBio aims to expedite the development of infigratinib, particularly focusing on addressing the needs of children afflicted with achondroplasia, with plans for broader application across various skeletal dysplasias in Japan.
Simultaneously, this partnership holds strategic importance for Kyowa Kirin, aiming to strengthen its lineup in bone and mineral disorders, notably achondroplasia. Following recent clinical trial outcomes, Kyowa Kirin opts to progress with BridgeBio’s infigratinib in Japan, offering individuals with skeletal dysplasias a potentially transformative therapy.
Kyowa Kirin then plans to get in touch with the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) in 2024 to start talking about a Japanese registrational trial that is slated to begin in 2025. This strategy orientation emphasizes BridgeBio and Kyowa Kirin’s shared goal of advancing pharmaceutical innovation and improving rare illness treatment, especially in Japan.
