Idorsia Ltd. and Mochida Pharmaceutical Co., Ltd. have reportedly announced that both the companies have signed an exclusive license agreement to supply, co-develop, and co-market daridorexant. It is dual orexin receptor antagonist (DORA) developed by Idorsia to treat insomnia and correlated conditions in Japan. A sum of 1 billion Japanese yen will be given to Idorsia as initial payment. Also, the company will have the right to receive three more development and regulatory milestones. It will also be eligible for sales targets and tiered royalty payments share as per the net sales attained by Mochida. Both the companies will share the expenses for co-development of daridorexant. Pertaining to the future development plan, Idorsia will manage health authority registration and design and conduction of further preclinical and clinical trials, under the supervision of a Joint Development Committee. Under the agreement, Mochida will have the rights to refuse at first place if Idorsia would want to out-license daridorexant to a third party in Japan for treating conditions other than insomnia and related disorders. Presently, daridorexant is under global (apart from Japan) Phase 3 confirmatory plan and a Phase 2. This is a dose confirmation trial running with Japanese subjects. The results of both of the phases are anticipated to be out by mid-2020. Jean-Paul Clozel, Chief Executive Officer and MD, Idorsia, apparently stated that they are eagerly waiting for the results of the Phase 3 program, which is due to come mid-2020 and are looking forward to be able to deliver a potential new treatment option for Insomnia patients. Naoyuki Mochida, President, Mochida, reportedly commented that the company is grateful to partner with Idorsia for supply, co- advancement and co-promotion of daridorexant. Jean-Paul Clozel further stated that being under the leadership of Dr Satoshi Tanaka has enabled the company to forge the partnership with Mochida. Source links: https://www.idorsia.com/media/news-details?newsId=2214983