In a deal worth approximately US$130 M, start-up Tolero Pharmaceuticals has licensed worldwide rights to develop and commercialise compounds from MannKind’s Btk (Bruton’s tyrosine kinase) programme, which are being developed for the treatment of haematological malignancies and inflammatory diseases. Interestingly, MannKind retains the right to reacquire the Btk assets at prespecified terms up to 60 days after completion of the first Phase I study.