07:52 AM EST, 12/03/2024 (MT Newswires) -- Keros Therapeutics ( KROS ) said Tuesday it has agreed to provide Takeda Pharmaceutical ( TAK ) with a global commercial license for elritercept, as well as to collaborate on the drug candidate's development.

Keros said it expects to receive an upfront payment of $200 million, with milestone payments that could reach up to $1.1 billion. It also expects to receive tiered royalties on net sales.

The upfront payment would extend Keros' operational runway through Q4 of 2028, the company said.

The agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, Keros said.

Elritercept is currently in late-stage clinical trials for myelodysplastic syndrome and myelofibrosis, according to Keros.