Subject to the terms of the agreement, Astellas will receive total payments of up to €5.5 million including upfront and milestone payments. In addition, Menarini will pay Astellas a high-single digit percentage royalties on net sales of Smyraf®. Menarini will have an option to extend the rights to select South-East Asian markets.

Smyraf® was developed and is currently marketed in Japan by Astellas and is indicated for the treatment of rheumatoid arthritis (including prevention of structural joint damage) in patients who have an inadequate response to conventional therapies.

Rheumatoid arthritis (RA) is a chronic autoimmune disorder that primarily affects the joints, causing inflammation, pain, and potential joint damage. With an estimated prevalence of 287.0 per 100,000 persons in Taiwan^[1], rheumatoid arthritis is acknowledged as a significant health problem, and efforts are being made to enhance its diagnosis, treatment, and management amidst an ageing population in the region.

"Menarini has a long history as the partner of choice for many biopharmaceutical companies across the Asia-Pacific region and we are excited that Astellas has trusted Menarini to promote and commercialize Smyraf®. Patients suffering from rheumatoid arthritis often need different options if the treatment target is not achieved. With proven efficacy and flexible dosing benefits, Smyraf® will play an important role in this regard," said Maurizio Luongo, Chief Executive Officer of Menarini Asia-Pacific.