Edesa Biotech licenses paridiprubart to Kyorin for Japan in deal worth over $140 million

On November 8, 2026, Edesa Biotech, Inc. and KYORIN Pharmaceutical Co., Ltd. signed a collaboration and license agreement covering paridiprubart in Japan, as disclosed in an 8-K filed November 9, 2026. Under the agreement, Edesa granted Kyorin an exclusive, royalty-bearing license, with sublicensing rights, to develop and commercialize paridiprubart (EB05) for acute respiratory distress syndrome in Japan.¹ Edesa retains rights to the drug everywhere else, including the United States, Europe and Canada, along with manufacturing rights.¹

Financially, Kyorin will pay Edesa a one-time, non-creditable and non-refundable upfront payment of $12 million.¹ Edesa is also eligible for development and regulatory milestones of up to $55 million in aggregate and sales-based milestones of up to ¥12.0 billion.¹ Kyorin will additionally pay low double-digit tiered royalties on net sales in Japan, subject to specified adjustments.¹ The press release put the total deal value, including upfront and milestones, at more than $140 million, plus double-digit royalties.¹

Kyorin is generally responsible for funding development, regulatory and commercialization work in Japan, while Edesa continues development outside Japan, with the companies sharing costs on any multi-regional studies.¹ Kyorin also received a right of first negotiation for acute kidney injury and a non-exclusive right to negotiate other indications in Japan.¹ The agreement runs until 15 years after first commercial sale in Japan, with automatic two-year renewals unless terminated earlier.¹

Separately, the filing noted that on November 8, 2026, Edesa notified H.C. Wainwright & Co., LLC that it was ending its At The Market Offering Agreement dated October 4, 2024, effective November 16, 2026.¹ Edesa said it faces no termination penalties tied to ending that agreement.¹

Paridiprubart is licensed to Edesa by NovImmune SA, operating under the brand Light Chain Bioscience, under an agreement dated April 17, 2020 with Edesa Biotech Research, Inc.¹