Biocon Biologics, a Biocon subsidiary, on Monday said it has inked an out-licensing agreement with Yoshindo Inc to commercialise its two biosimilar assets in the Japanese market.

Under the terms of this deal, Japan-based Yoshindo will get exclusive commercialisation rights in Japan for Ustekinumab and Denosumab — developed and manufactured by Biocon Biologics — for an addressable market opportunity of $700 million.

Biocon Biologics said in a statement that it will receive an upfront licence fee as well as additional payments on the achievement of certain development milestones over the next few years.

Ustekinumab biosimilar is used to treat several autoimmune conditions, including psoriasis, Crohn’s disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis whereas Denosumab is used for the treatment of osteoporosis.