SK Biopharm is set to acquire a Parkinson's disease treatment drug candidate from domestic bio venture First Bio Therapeutics. The deal includes a technology transfer contract valued at up to 430.8 billion won and a strategic equity investment of 3 billion won. This move expands SK Biopharm's focus from epilepsy to Parkinson's disease, aiming to develop treatments that slow disease progression.
On September 17, SK Biopharm announced it signed a licensing agreement with First Bio for global exclusive development and commercialization rights to the Parkinson's disease treatment candidate. This marks the first candidate acquisition led by SK Biopharm's Open Innovation Center (OIC). Additionally, SK Biopharm made a strategic investment of 3 billion won in First Bio.
The total contract value could reach up to 430.8 billion won, comprising a non-refundable upfront payment of 2.5 billion won, milestone payments of up to 72.5 billion won at various stages of research, development, and commercialization, and future milestone payments based on product net sales of up to $26 million (approximately 35.58 billion won). After commercialization, additional royalties linked to net sales will also be paid. Currently, the confirmed payment is the upfront fee of 2.5 billion won, with the remaining payments contingent on development, regulatory approval, and sales targets.
The drug candidate being acquired is a small-molecule oral treatment designed to simultaneously inhibit 'Type 2 LRRK2' and 'c-Abl'. Parkinson's disease is a degenerative brain disorder characterized by the gradual loss of dopamine-producing neurons, leading to impaired motor function. The abnormal accumulation of alpha-synuclein within neurons is recognized as a key pathological feature.
Excessive activation of the LRRK2 gene is associated with neuronal dysfunction, while the activity of the c-Abl protein is known to influence alpha-synuclein accumulation. First Bio's candidate employs a dual inhibition approach targeting both pathways, designed to act on the complex mechanisms of Parkinson's disease onset and progression.
Current Parkinson's disease treatments often focus on alleviating symptoms such as tremors, rigidity, and bradykinesia. There remains a significant unmet need for disease-modifying therapies (DMT) that can slow or alter neuronal damage and disease progression. SK Biopharm plans to explore the potential for DMT development through this candidate acquisition.
SK Biopharm CEO Lee Dong-hoon stated, "This agreement exemplifies our strategy to expand our CNS portfolio through open innovation and connect promising candidates from Asia to the global market as part of our East-West Bridge strategy. We will leverage our accumulated development capabilities and global partnerships to enhance the value of this candidate and explore DMT development opportunities."
Meanwhile, SK Biopharm's innovative epilepsy drug, Cenobamate (marketed in Japan as Exkico), has received approval from Japan's Ministry of Health, Labour and Welfare. With this approval, Cenobamate is now authorized in Japan, following approvals in South Korea and China, marking its availability in all three countries.
On September 17, SK Biopharm announced it signed a licensing agreement with First Bio for global exclusive development and commercialization rights to the Parkinson's disease treatment candidate. This marks the first candidate acquisition led by SK Biopharm's Open Innovation Center (OIC). Additionally, SK Biopharm made a strategic investment of 3 billion won in First Bio.
The total contract value could reach up to 430.8 billion won, comprising a non-refundable upfront payment of 2.5 billion won, milestone payments of up to 72.5 billion won at various stages of research, development, and commercialization, and future milestone payments based on product net sales of up to $26 million (approximately 35.58 billion won). After commercialization, additional royalties linked to net sales will also be paid. Currently, the confirmed payment is the upfront fee of 2.5 billion won, with the remaining payments contingent on development, regulatory approval, and sales targets.
The drug candidate being acquired is a small-molecule oral treatment designed to simultaneously inhibit 'Type 2 LRRK2' and 'c-Abl'. Parkinson's disease is a degenerative brain disorder characterized by the gradual loss of dopamine-producing neurons, leading to impaired motor function. The abnormal accumulation of alpha-synuclein within neurons is recognized as a key pathological feature.
Excessive activation of the LRRK2 gene is associated with neuronal dysfunction, while the activity of the c-Abl protein is known to influence alpha-synuclein accumulation. First Bio's candidate employs a dual inhibition approach targeting both pathways, designed to act on the complex mechanisms of Parkinson's disease onset and progression.
Current Parkinson's disease treatments often focus on alleviating symptoms such as tremors, rigidity, and bradykinesia. There remains a significant unmet need for disease-modifying therapies (DMT) that can slow or alter neuronal damage and disease progression. SK Biopharm plans to explore the potential for DMT development through this candidate acquisition.
SK Biopharm CEO Lee Dong-hoon stated, "This agreement exemplifies our strategy to expand our CNS portfolio through open innovation and connect promising candidates from Asia to the global market as part of our East-West Bridge strategy. We will leverage our accumulated development capabilities and global partnerships to enhance the value of this candidate and explore DMT development opportunities."
Meanwhile, SK Biopharm's innovative epilepsy drug, Cenobamate (marketed in Japan as Exkico), has received approval from Japan's Ministry of Health, Labour and Welfare. With this approval, Cenobamate is now authorized in Japan, following approvals in South Korea and China, marking its availability in all three countries.
* This article has been translated by AI.
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