Spruce terminates Japan partnership for tildacerfont, forfeiting up to $65M in milestones

Filed March 20, 2026 · Period ending March 16, 2026 · ~1 min read

Key Changes

• high

  Spruce and Kaken mutually terminated their Japan collaboration for tildacerfont effective March 31, 2026, following a comprehensive assessment of the CAH treatment program. All development and commercialization rights revert to Spruce.

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• high

  The company will forfeit up to $65 million in unearned development, regulatory, and commercialization milestone payments, plus future royalties from Japan sales. Spruce retains the $15 million upfront payment received in 2023.

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• high

  The termination followed a comprehensive assessment of tildacerfont for CAH treatment, though specific findings were not disclosed. This raises questions about the drug's development prospects or commercial viability.

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