Mineralys Therapeutics, Inc. (MLYS) · Oct 29, 2026 · Agreement terminated

Mineralys ends Tanabe license, but up to $265M remains

License terminated — Tanabe license terminated; lorundrostat intellectual property assigned

Mineralys’ license termination with Tanabe is complete: lorundrostat IP transfers in-house, but contingent milestone obligations remain.

Mineralys is a single-asset biotech moving lorundrostat through FDA review for uncontrolled and resistant hypertension, with commercial launch preparations underway and a PDUFA target date of December 22, 2026. This filing removes a structural dependency just before the regulatory decision: Tanabe’s license is now terminated and the underlying lorundrostat patents and know-how have been assigned to Mineralys. 〔0〕 The direction was already disclosed in June, so this is completion of an expected transaction rather than a fresh strategic surprise. The economics improve operationally, but the payment burden did not disappear: Mineralys remains liable for up to $255.0 million of commercial milestones plus up to $10.0 million tied to a potential second indication, while Tanabe retains a Japan-specific right of first negotiation until milestones are paid. 〔1〕 There is no new early-exit cash hit: the company says it incurred no material termination penalty. 〔2〕 Bottom line: This makes Mineralys the clean owner of lorundrostat’s core intellectual property ahead of the FDA decision, but mostly confirms the June plan and leaves the contingent milestone obligations intact. سمجھ

What to watch next

FDA decision on lorundrostat, December 22, 2026

Original filing on SEC EDGAR

More Mineralys Therapeutics, Inc. news

Mineralys ends Tanabe license, but up to $265M remains | MLYS Stock News
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