Mineralys Therapeutics has terminated its licensing agreement with Tanabe Pharma Corporation and acquired full ownership of the intellectual property for its lead drug candidate, lorundrostat. This strategic move transitions the company from a licensee to the outright owner of the patents and know-how for lorundrostat.
Key Details
- Transaction: On October 27, 2026, Mineralys terminated its 2020 license agreement and acquired the underlying intellectual property for lorundrostat from Tanabe Pharma.
- Retained Obligations: Despite the termination, Mineralys remains obligated to pay Tanabe up to $265.0 million in future commercial milestone payments ($255.0M for the first indication and $10.0M for a potential second).
- Continued Terms: The obligation for a $100.0 million accelerated payment upon a change of control remains in place, and Tanabe retains the right of first negotiation for licensing rights in Japan.