Daewoong Pharmaceutical research and development subsidiary I&I Therapeutics said on the 18th that it signed a technology export deal with U.S. biotech Niroda Therapeutics for the next-generation non-opioid analgesic candidate "Aneratrigine." The deal is worth up to $500 million (750 billion won).
I&I Therapeutics received an upfront payment upon signing and will additionally receive stepwise milestones, including short-term technology fees within 18 months, and royalties (license fees).
I&I Therapeutics is a company that develops treatments for neurological diseases by targeting ion channels involved in electrical signal transmission between cells, and has identified multiple candidates based on its proprietary ion channel new drug development platform "VITVO."
Aneratrigine is a non-opioid analgesic candidate that precisely inhibits the ion channel "NaV1.7," which is key to chronic pain control. Its strength is that it has no addictiveness or risk of abuse, and it is expected to be a new option in the field of chronic and neuropathic pain, where there are still no clear treatments. Demand for non-opioid painkillers is also growing as the opioid crisis continues, particularly in the United States.
Niroda was jointly founded by Population Health Partners, F-Prime Capital, and Lilly Asia Ventures, and is made up of experts with extensive experience in ion channel drug development.
Under the agreement, Niroda will exclusively secure global clinical development and commercialization rights for Aneratrigine in major markets, including the United States and Europe. I&I Therapeutics will retain rights in some Asian regions, including Korea and China, and the existing phase 2 trials in Korea and Europe will be adjusted in line with Niroda's global development strategy.
The two companies plan to develop NaV1.7 and NaV1.8 inhibitors as monotherapies or combination therapies to broaden the range of pain treatments. With this deal, I&I Therapeutics is expected to speed up development of follow-up pipelines and its planned initial public offering (IPO) in 2027.
Chief Executive Park Jong-deok of I&I Therapeutics said, "This agreement is a performance that proves the global competitiveness of our ion channel platform," adding, "We will reinvest the secured funds into follow-up pipelines such as treatments for hearing loss and brain diseases, and strengthen commercialization capabilities with a goal of an IPO in 2027."