Adel (ADEL), which is jointly developing an Alzheimer's disease drug candidate with Oscotec, said on the 16th that it signed a technology transfer agreement with French drugmaker Sanofi to transfer the exclusive worldwide rights for development and commercialization of the Alzheimer's drug candidate "ADEL-Y01."
The total value of the deal is up to $1.04 billion (1.53 trillion won). Adel will receive a nonrefundable upfront payment of $80 million (about 118 billion won) and will receive additional milestone payments based on progress in development and commercialization. After the product is commercialized, it can receive tiered royalties linked to net sales.
ADEL-Y01 targets only "acetylated tau (acK280)," which accumulates in the brain, aggregates, and causes toxicity among tau proteins cited as a main cause of Alzheimer's disease, without acting on normal tau. It is being developed as a monoclonal antibody and a treatment candidate applicable to humans.
Adel has led the entire development process, from identifying the target and deriving the candidate to validating efficacy, conducting nonclinical studies, and producing clinical samples. In 2020, it signed a joint research and development agreement with Oscotec and is currently conducting a global phase 1 trial with investigational new drug (IND) clearance from the U.S. Food and Drug Administration (FDA).
Yoon Seung-yong, Adel's CEO, said, "This technology transfer agreement is significant in that a global pharmaceutical company recognized Adel's technological competitiveness and the potential of ADEL-Y01," adding, "Through our collaboration with Sanofi, which has extensive experience in drug development and commercialization, we want to deliver hope more quickly to Alzheimer's patients worldwide who urgently need a fundamental therapy."
Erik Wallstroem, Sanofi's executive vice president and global head of multiple sclerosis, neurology, and gene therapy development, said, "Adel's acetylated tau–targeting approach is a differentiated strategy aimed at the fundamental cause of Alzheimer's disease," adding, "We look forward to successfully advancing the clinical development of ADEL-Y01 to offer a new treatment option to patients living with this disease."