Unicycive Therapeutics, Inc. announced that it has entered into an exclusive license agreement with Lotus Pharmaceutical. Renazorb is Unicycive's novel phosphate binding agent being developed for the treatment of hyperphosphatemia in chronic kidney disease (CKD) patients. Under the terms of the agreement, Lotus will be responsible for development, registration filing and approval of Renazorb in the Republic of Korea.

In addition, Lotus will have sole responsibility for the importation of the drug product from Unicycive and for the costs of commercialization of Renazorb in the Republic of Korea. Unicycive will receive an upfront payment of $750,000 and may receive up to $4.45 million in milestone payments and tiered royalties upon achievement of prespecified regulatory and commercial achievements.