05:46 PM EST, 11/20/2024 (MT Newswires) -- Kura Oncology ( KURA ) and Kyowa Kirin said Wednesday that will develop and commercialize ziftomenib for the treatment of patients with blood cancer.

Kura will receive $330 million in upfront payment and up to $420 million in near-term milestone payments, according to the companies.

It will also be eligible for $741 million on achieving development, regulatory and commercial milestones, the companies added.

Under the agreement, the companies will jointly develop and commercialize the drug in the US, while Kyowa Kirin will hold exclusive commercialization rights outside the US.

Kura stock fell 15% in recent after-hours activity.