Otsuka Pharmaceutical Co. Ltd., of Tokyo, inked an agreement granting Medimetriks Pharmaceuticals Inc., of Fairfield, N.J. exclusive development and commercialization rights for OPA-15406 in the U.S. and Puerto Rico, along with manufacturing rights. Otsuka is set to receive an up-front payment of $22 million and milestone payments through approval of the new drug application, as well as sales royalties. Medimetriks assumed responsibility to fund and manage phase III studies in the U.S. for OPA-15406, a topical, non-steroidal phosphodiesterase IV, or PDE-4, inhibitor that represents a new treatment class for atopic dermatitis.