ASLAN will receive up to $15 million in upfront and near-term payments and up to an additional $123.5 million based on development and commercial milestones plus tiered royalties on sales in percentages ranging up to low twenties.

Eblasakimab is a potential first-in-class monoclonal antibody targeting the IL-13 receptor subunit of the Type 2 receptor, a critical pathway driving several allergic inflammatory diseases.

"As we approach late-stage development of Eblasakimab globally, it was important for us to identify a partner like Zenyaku who can apply its experience to accelerate the development of Eblasakimab in Japan," said Dr. Carl Firth, CEO of ASLAN Pharmaceuticals. 

Zenyaku Kogyo, a Japanese pharmaceutical company specializing in dermatology and oncology, plans to initiate a Phase 1 study of Eblasakimab in Japan in the first half of 2024.

"We are extremely pleased to partner with Zenyaku, a leading Japanese pharmaceutical company with exceptional clinical and life cycle management expertise," Firth added.

Price Action: ASLN shares are trading higher by 5.09% to $4.13 in the premarket session on the last check Thursday.