Ferring Pharmaceuticals and Astellas Pharma Inc. have entered into a license agreement that gives Astellas exclusive rights to develop and market degarelix for the treatment of prostate cancer in Japan.

"This agreement marks another significant step for degarelix. We are convinced that this partnership with Astellas will be a strong one, especially as both companies have a strong commitment to the area of urology," said Michel Pettigrew, Ferring's chief operating officer.

According to the company release, the license agreement grants Astellas the exclusive rights to develop and market degarelix for the treatment of prostate cancer in Japan. Astellas will make upfront and milestone payments to Ferring.

In addition, Astellas will pay a royalty on product sales. In Japan, Ferring's subsidiary Ferring Pharma Co., Ltd. is currently conducting a phase I clinical trial. Following the conclusion of the licensing agreement, Astellas will undertake clinical development in Japan from phase II onward. Ferring is conducting a phase III clinical trial in the US and Europe on a three-month formulation of degarelix in prostate cancer patients, and a phase III trial on a one-month formulation is also in preparation.

Degarelix is a gonadtrophin-releasing hormone (GnRH) blocker discovered by Ferring, with a unique sustained-release injectable formulation. GnRH is a hormone produced in the hypothalamus in the brain and is involved in the production of the male hormone testosterone.

Ferring is a Swiss-based research driven, speciality biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of endocrinology, gastroenterology, gynaecology, infertility and urology.