Mirum Pharma Out-Licenses Maralixibat Rights To GC Pharma in South Korea - Mirum Pharmaceuticals (NASDAQ:MIRM)

Mirum Pharmaceuticals Inc MIRM and GC Pharma have entered into an exclusive licensing agreement to develop and commercialize Mirum's maralixibat in South Korea.
Maralixibat is an investigational, orally administered medication being evaluated in Alagille syndrome (ALGS), progressive familial intrahepatic cholestasis (PFIC), and biliary atresia (BA).
The FDA has accepted a maralixibat marketing application for cholestatic pruritus in patients with ALGS under priority review.
The European Medicines Agency is reviewing maralixibat for the treatment of PFIC.
Mirum has commenced a global Phase 2b maralixibat study (EMBARK) for the treatment of BA.
Under the terms of the licensing agreement, Mirum will receive an upfront payment of $5 million and payments undisclosed milestone payments, with tiered double-digit royalties based on net product sales in the region.
Price Action: MIRM shares closed at $15.24 on Monday.