Kubota Pharmaceutical Holdings Co.,Ltd. [4596.T]
TOKYO, Jul 02 (Pulse News Wire) – Kubota Pharmaceutical Holdings CO.,LTD. (4596.T) announced that its subsidiary, Kubota Vision Inc., received a milestone payment related to the supply agreement signed with Laboratoires KÔL for a drug candidate targeting Stargardt disease.
The agreement was finalized on March 02, 2026, and amended on April 07, 2026, to clarify conditions and refund provisions. Additionally, Kubota Vision began manufacturing the active pharmaceutical ingredient Emixustat hydrochloride according to clinical Good Manufacturing Practice standards since April 2026. Following the completion of necessary documentation for compassionate use approval from the French regulatory authority ANSM, the company met the criteria for the first milestone payment under the contract. While the specific amount remains undisclosed due to contractual obligations, the milestone payment is expected to meet the threshold for timely disclosure once recognized as revenue.
The accounting treatment for recognizing revenue based on the milestone payment is currently being reviewed with auditors. Should the ANSM fail to grant compassionate use approval, there could be potential refunds to KÔL based on the progress of manufacturing activities, except for certain amounts. Further details on the impact on the company's performance will be disclosed as needed. Moving forward, Kubota Pharmaceutical Holdings will continue to advance its efforts to promote the compassionate use program for designated patients in France through collaboration with KÔL.
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