Journey Medical Corporation announced it has entered into an exclusive license agreement with Maruho Co. Ltd. Pursuant to the terms of the Agreement, Journey Medical granted Maruho an exclusive license to develop and commercialize Qbrexza(R) (Rapifort(R) /DRM04 /glycopyrronium tosylate hydrate) for the treatment of hyperhidrosis, in South Korea, Taiwan, Hong Kong, Macau, Thailand, Indonesia, Malaysia, Philippines, Singapore, Vietnam, Brunei, Cambodia, Myanmar and Laos (the Territory). Under the terms of the Agreement, Journey Medical will receive a $19 million nonrefundable upfront payment.

Maruho is responsible for all development and commercialization costs for the program throughout the Territory. Additionally, in conjunction with the new license grant, Journey Medical and Maruho have also entered into an amendment of their existing license agreement that grants Maruho exclusive rights to Qbrexza (Rapifort) in Japan (the Amendment). The Amendment contains modifications that reduce certain royalty and milestone obligations payable to Journey, among other changes to certain economic sharing obligations.

Under the Amendment, Journey is still eligible to receive certain milestones payments, totaling up to $45 million.