Travere Therapeutics Announces Licensing Agreement with Renalys Pharma to Develop and Commercialize Sparsentan in Japan, South Korea, Taiwan, and Southeast Asian Nations

Rhea-AI Summary

Travere Therapeutics, Inc. has entered into an exclusive licensing agreement with Renalys Pharma, Inc., to bring sparsentan, a dual endothelin angiotensin receptor antagonist for the treatment of IgA nephropathy, to patients in Japan and other countries in Asia. Renalys will hold regional rights to sparsentan for Japan, South Korea, Taiwan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Travere will receive an upfront payment and be eligible to receive up to $120 million in regulatory, development, and sales-based milestone payments. Results from the urine protein/creatinine ratio (UP/C) endpoint in the study are expected in the second half of 2025 to support a submission for approval to PMDA. Travere has obtained a minority equity stake in Renalys and will be eligible to receive tiered royalties on net sales of sparsentan in Japan, South Korea, Taiwan, and the specified Southeast Asian nations.

Medical Research Analyst

The announced partnership between Travere Therapeutics and Renalys Pharma for the development and potential approval of sparsentan in Japan and other Asian countries represents a significant milestone in the treatment of IgA nephropathy (IgAN). IgAN, a leading cause of kidney failure, has limited treatment options and sparsentan's dual action as an endothelin angiotensin receptor antagonist may offer a novel therapeutic approach. The initiation of a registrational study signifies the transition from early-stage research to a phase that is more directly focused on regulatory approval.

From a medical research perspective, the unique mechanism of action of sparsentan, targeting both endothelin and angiotensin receptors, could result in improved outcomes for patients. By potentially reducing proteinuria, a common symptom of kidney disease, sparsentan may slow the progression of IgAN. The UP/C endpoint in the upcoming study is a critical marker for assessing kidney function and the effectiveness of the treatment. Positive results could lead to a new standard of care in a therapeutic area with high unmet need.

Financial Analyst

Travere Therapeutics' exclusive licensing agreement with Renalys Pharma is strategically significant, as it opens up new markets in Asia, with a focus on Japan—a country known for its rigorous regulatory environment and a high prevalence of kidney diseases. The upfront payment and the potential for $120 million in milestone payments, along with tiered royalties on net sales, could provide substantial revenue streams for Travere. Additionally, the minority equity stake in Renalys offers Travere a vested interest in Renalys' success beyond sparsentan.

Investors should note the long-term financial implications of this deal, which hinge on the successful development and commercialization of sparsentan. The projected timeline suggests that if all goes well, revenue from sales could begin to materialize post-2025, following the expected UP/C endpoint results and subsequent regulatory submissions. However, the inherent risks of clinical trials and regulatory approvals must be factored into any financial forecasts.

Market Research Analyst

The partnership underscores the strategic importance of Asia as an emerging market for pharmaceuticals, particularly for treatments targeting chronic diseases such as IgAN. Japan's aging population and increasing healthcare expenditure make it an attractive market for innovative therapies. By leveraging Renalys Pharma's regional expertise and established presence, Travere Therapeutics can navigate the complex Asian healthcare landscapes more effectively.

The collaboration could also set a precedent for future therapies in the renal space, especially as combination therapies become more prevalent. Market dynamics suggest that early entrants like sparsentan have the potential to establish a strong market position, influencing treatment protocols and potentially becoming a foundational therapy in IgAN treatment regimens. Understanding patient populations, healthcare systems and competitive landscapes in each of the licensed territories will be crucial for the successful commercialization of sparsentan.

Renalys expected to initiate registrational study in the second quarter of 2024 to support potential approval of sparsentan for IgA nephropathy in Japan

SAN DIEGO, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc., (NASDAQ: TVTX) announced that it has entered into an exclusive licensing agreement with Renalys Pharma, Inc., to bring sparsentan, a dual endothelin angiotensin receptor antagonist for the treatment of IgA nephropathy, to patients in Japan and other countries in Asia. Renalys will hold regional rights to sparsentan for Japan, South Korea, Taiwan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

“We’re pleased to partner with Renalys, a company led by distinguished renal experts with a strong track record of launching kidney disease treatments,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. “Renalys Pharma has the expertise and resources to rapidly advance sparsentan to enable people living with IgAN in Japan and other Asian countries to have access to this innovative therapy as quickly as possible.”

Following successful meetings with the Pharmaceuticals and Medical Devices Agency (PMDA) in 2023, Renalys plans to initiate an open label registrational study of sparsentan in Japan in the second quarter of 2024 to support potential approval of sparsentan in Japan. Results from the urine protein/creatinine ratio (UP/C) endpoint in the study are expected in the second half of 2025 to support a submission for approval to PMDA.

Under the terms of the agreement, Travere will receive an upfront payment and be eligible to receive up to $120 million in regulatory, development and sales-based milestone payments. As part of the collaboration, Travere has obtained a minority equity stake in Renalys and will be eligible to receive tiered royalties on net sales of sparsentan in Japan, South Korea, Taiwan, and the specified Southeast Asian nations. Renalys will be responsible for development, regulatory matters, and commercialization in the licensed territories.

“As the first non-immunosuppressive treatment for IgA nephropathy, and one that will likely be used in combination therapy regimens as new agents are approved in the future, sparsentan is - without question - the kind of foundational medicine we are focused on bringing to Japan to stem the rising tide of kidney failure due to IgAN,” said BT Slingsby, chief executive officer of Renalys Pharma. “Travere is a long-known leader in rare kidney disease, and we are proud to collaborate with this team.”

About IgA Nephropathy

IgA nephropathy (IgAN), also called Berger's disease, is a rare progressive kidney disease characterized by the buildup of immunoglobulin A (IgA), a protein that helps the body fight infections, in the kidneys. The deposits of IgA cause a breakdown of the normal filtering mechanisms in the kidney, leading to blood in the urine (hematuria), protein in the urine (proteinuria) and a progressive loss of kidney function. Other symptoms of IgAN may include swelling (edema) and high blood pressure.

IgAN is the most common type of primary glomerulonephritis worldwide and a leading cause of kidney failure due to glomerular disease.

About Travere Therapeutics

At Travere Therapeutics, we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com.

About Renalys Pharma

Renalys Pharma is a private, late-stage clinical biopharmaceutical company in Japan committed to the development of multiple innovative therapeutics that address unmet needs in the management of renal disease for Japanese and Asian patients. It was co-founded by life sciences investment firms Catalys Pacific and SR One.

FILSPARI^® (sparsentan) U.S. Indication

FILSPARI is an endothelin and angiotensin II receptor antagonist indicated to reduce proteinuria in adults with primary immunoglobulin A nephropathy (IgAN) at risk of rapid disease progression, generally a UPCR ≥1.5 g/g.

This indication is granted under accelerated approval based on reduction in proteinuria. It has not been established whether FILSPARI slows kidney function decline in patients with IgAN. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory clinical trial.

FILSPARI^® (sparsentan) Important Safety Information

BOXED WARNING: HEPATOTOXICITY AND EMBRYO-FETAL TOXICITY
Because of the risks of hepatotoxicity and birth defects, FILSPARI is available only through a restricted program called the FILSPARI REMS. Under the FILSPARI REMS, prescribers, patients and pharmacies must enroll in the program.

Hepatotoxicity
Some Endothelin Receptor Antagonists (ERAs) have caused elevations of aminotransferases, hepatotoxicity, and liver failure. In clinical studies, elevations in aminotransferases (ALT or AST) of at least 3-times the Upper Limit of Normal (ULN) have been observed in up to 2.5% of FILSPARI-treated patients, including cases confirmed with rechallenge.

Measure transaminases and bilirubin before initiating treatment and monthly for the first 12 months, and then every 3 months during treatment. Interrupt treatment and closely monitor patients who develop aminotransferase elevations more than 3x ULN.

FILSPARI should generally be avoided in patients with elevated aminotransferases (>3x ULN) at baseline because monitoring for hepatotoxicity may be more difficult and these patients may be at increased risk for serious hepatotoxicity.

Embryo-Fetal Toxicity
FILSPARI can cause major birth defects if used by pregnant patients based on animal data. Therefore, pregnancy testing is required before the initiation of treatment, during treatment and one month after discontinuation of treatment with FILSPARI. Patients who can become pregnant must use effective contraception before the initiation of treatment, during treatment, and for one month after discontinuation of treatment with FILSPARI.

Contraindications: FILSPARI is contraindicated in patients who are pregnant. Do not coadminister FILSPARI with angiotensin receptor blockers (ARBs), ERAs, or aliskiren.

Warnings and Precautions

Hepatotoxicity: Elevations in ALT or AST of at least 3-fold ULN have been observed. To reduce the risk of potential serious hepatotoxicity, measure serum aminotransferase levels and total bilirubin prior to initiation of treatment, monthly for the first 12 months, then every 3 months during treatment.

Advise patients with symptoms suggesting hepatotoxicity (nausea, vomiting, right upper quadrant pain, fatigue, anorexia, jaundice, dark urine, fever, or itching) to immediately stop treatment with FILSPARI and seek medical attention. If aminotransferase levels are abnormal at any time during treatment, interrupt FILSPARI and monitor as recommended.

Consider re-initiation of FILSPARI only when hepatic enzyme levels and bilirubin return to pretreatment values and only in patients who have not experienced clinical symptoms of hepatotoxicity.

Avoid initiation of FILSPARI in patients with elevated aminotransferases (>3x ULN) prior to drug initiation.

Embryo-Fetal Toxicity: FILSPARI can cause fetal harm. Advise patients who can become pregnant of the potential risk to a fetus. Obtain a pregnancy test and advise patients who can become pregnant to use effective contraception prior to, during, and one month after discontinuation of FILSPARI treatment.

FILSPARI REMS: FILSPARI is available only through a restricted program under a REMS called the FILSPARI REMS.

Important requirements include:

• Prescribers must be certified with the FILSPARI REMS by enrolling and completing training.
  
• All patients must enroll in the FILSPARI REMS prior to initiating treatment and comply with monitoring requirements.
  
• Pharmacies that dispense FILSPARI must be certified with the FILSPARI REMS and must dispense only to patients who are authorized to receive FILSPARI.
  

Further information is available at www.filsparirems.com or 1-833-513-1325.

Hypotension: There was a greater incidence of hypotension-associated adverse events, some serious, including dizziness, in patients treated with FILSPARI compared to irbesartan. In patients at risk for hypotension, consider eliminating or adjusting other antihypertensive medications and maintaining appropriate volume status. If hypotension develops, consider a dose reduction or dose interruption of FILSPARI.

Acute Kidney Injury: Monitor kidney function periodically. Patients whose kidney function may depend in part on the activity of the renin-angiotensin system (e.g., patients with renal artery stenosis, chronic kidney disease, severe congestive heart failure, or volume depletion) may be at particular risk of developing acute kidney injury on FILSPARI. Consider withholding or discontinuing therapy in patients who develop a clinically significant decrease in kidney function while on FILSPARI.

Hyperkalemia: Monitor serum potassium periodically and treat appropriately. Patients with advanced kidney disease, taking concomitant potassium-increasing drugs (e.g., potassium supplements, potassium-sparing diuretics), or using potassium-containing salt substitutes are at increased risk for developing hyperkalemia. Dosage reduction or discontinuation of FILSPARI may be required.

Fluid Retention: Fluid retention may occur with ERAs, and has been observed with FILSPARI. If clinically significant fluid retention develops, after evaluation, consider modifying the dose of FILSPARI.

Most common adverse reactions (5%) with FILSPARI are peripheral edema, hypotension (including orthostatic hypotension), dizziness, hyperkalemia, and anemia.

Drug interactions

• Renin-Angiotensin System (RAS) Inhibitors and ERAs: Do not coadminister FILSPARI with angiotensin receptor blockers (ARBs), ERAs, or aliskiren.
• Strong and Moderate CYP3A Inhibitors: Avoid concomitant use of FILSPARI with strong CYP3A inhibitors. Monitor blood pressure, serum potassium, edema, and kidney function regularly when used concomitantly with moderate CYP3A inhibitors.
• Strong CYP3A Inducers: Avoid concomitant use with a strong CYP3A inducer.
• Antacids and Acid Reducing Agents: Administer FILSPARI 2 hours before or after administration of antacids. Avoid concomitant use of acid reducing agents (histamine H2 receptor antagonist and PPI proton pump inhibitor) with FILSPARI.
• Non-Steroidal Anti-Inflammatory Agents (NSAIDs), Including Selective Cyclooxygenase-2 (COX-2) Inhibitors: Monitor for signs of worsening renal function.
• CYP2B6, 2C9, and 2C19 Substrates: Monitor for efficacy of the concurrently administered CYP2B6, 2C9, and 2C19 substrates and consider dosage adjustment in accordance with the Prescribing Information.
• P-gp and BCRP Substrates: Avoid concomitant use of sensitive substrates of P-gp and BCRP with FILSPARI.
• Agents Increasing Serum Potassium: Monitor serum potassium frequently. Concomitant use of FILSPARI with potassium-sparing diuretics, potassium supplements, potassium-containing salt substitutes, or other drugs that raise serum potassium levels may result in hyperkalemia.

Use in specific populations

• Pregnancy / Females and Males of Reproductive Potential: FILSPARI can cause fetal harm, including birth defects and fetal death, when administered to a pregnant patient and is contraindicated during pregnancy.
  • Pregnancy Testing / Contraception: Verify the pregnancy status and effective method of contraception prior to, during, and one month after discontinuation of FILSPARI treatment. The patient should contact their physician immediately for pregnancy testing if onset of menses is delayed or pregnancy is suspected.
• Lactation: Advise patients not to breastfeed during treatment with FILSPARI.
• Hepatic Impairment: Avoid use of FILSPARI in patients with any hepatic impairment (Child-Pugh class A-C).

Please see Full Prescribing Information for FILSPARI here.

Forward-Looking Statements
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, these statements are often identified by the words “on-track,” “positioned,” “look forward to,” “will,” “would,” “may,” “might,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “potential,” or similar expressions. In addition, expressions of our strategies, intentions or plans are also forward-looking statements. Such forward-looking statements include, but are not limited to, references to: the timing and potential outcome of Renalys Pharma’s plans regarding a registrational study and the potential approval of sparsentan for IgA nephropathy in Japan; other statements regarding Renalys Pharma’s capabilities and plans, including but not limited to its development and commercialization plans and related expectations; statements regarding potential future milestone and royalty-based payments; statements regarding the potential use of sparsentan in combination therapy; and statements regarding the potential for sparsentan to be a foundational medicine in the applicable territories. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the regulatory review and approval process, as well as general risks and uncertainties associated with the Company’s and Renalys’s business, finances, and pipeline. Specifically, the Company faces risks associated with market acceptance of its commercial products including efficacy, safety, price, reimbursement, and benefit over competing therapies, as well as risks associated with the successful development and execution of commercial strategies for such products, including FILSPARI. The risks and uncertainties the Company faces with respect to its preclinical and clinical stage pipeline include risk that the Company’s clinical candidates will not be found to be safe or effective and that current or anticipated future clinical trials will not proceed as planned. Specifically, the Company faces risks related to the timing and potential outcome of its licensees’ development, regulatory and commercialization activities in licensed territories, the timing and potential outcome of its planned sNDA submission for full approval of sparsentan in IgAN, and the risk that the results from the Phase 3 DUPLEX Study of sparsentan in FSGS will not serve as a basis for a regulatory submission for approval of sparsentan for FSGS. There is no guarantee that regulators will grant full approval of sparsentan for IgAN or FSGS. The Company also faces the risk that its cash runway might not last as long as currently anticipated and the risk that it will be unable to raise additional funding that may be required to complete development of any or all of its product candidates, including as a result of macroeconomic conditions; risks relating to the Company’s dependence on contractors for clinical drug supply and commercial manufacturing; uncertainties relating to patent protection and exclusivity periods and intellectual property rights of third parties; risks associated with regulatory interactions; and risks and uncertainties relating to competitive products, including current and potential future generic competition with certain of the Company’s products, and technological changes that may limit demand for the Company’s products. The Company also faces additional risks associated with global and macroeconomic conditions, including health epidemics and pandemics, including risks related to potential disruptions to clinical trials, commercialization activity, supply chain, and manufacturing operations. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties, including under the heading “Risk Factors”, as included in the Company’s most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission.

Contact Info

Media: 888-969-7879 mediarelations@travere.com		Investors: 888-969-7879 IR@travere.com

FAQ

What is the exclusive licensing agreement related to sparsentan?

Travere Therapeutics, Inc. has entered into an exclusive licensing agreement with Renalys Pharma, Inc., to bring sparsentan, a dual endothelin angiotensin receptor antagonist for the treatment of IgA nephropathy, to patients in Japan and other countries in Asia.

What are the regional rights of Renalys for sparsentan?

Renalys will hold regional rights to sparsentan for Japan, South Korea, Taiwan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

What payments is Travere eligible to receive?

Travere will receive an upfront payment and be eligible to receive up to $120 million in regulatory, development, and sales-based milestone payments.

What results are expected from the study in Japan?

Results from the urine protein/creatinine ratio (UP/C) endpoint in the study are expected in the second half of 2025 to support a submission for approval to PMDA.

What stake has Travere obtained in Renalys?

Travere has obtained a minority equity stake in Renalys and will be eligible to receive tiered royalties on net sales of sparsentan in Japan, South Korea, Taiwan, and the specified Southeast Asian nations.