Curacle said on the 11th that it signed a global technology transfer deal with U.S. biotech Memento Medicines (hereafter Memento) for the bispecific antibody MT-103, a retinal disease treatment candidate being co-developed with antibody specialist MapTx.
The total deal value, including an upfront payment and development, regulatory, and commercial milestones, is up to $1,077.75 million (about 1.5636 trillion won). Under a joint research and development agreement, Curacle and MapTx will split the contract revenue 50-50, putting Curacle's attributable deal size at $538.87 million (about 781.8 billion won).
Curacle's attributable amount includes a $4 million upfront (about 5.8 billion won), $41.12 million in development and regulatory milestones (about 59.7 billion won), and $493.75 million in commercial milestones (about 716.3 billion won). Running royalties are separate.
Under the agreement, Memento secures exclusive rights to the global development, manufacturing, and commercialization of MT-103. The territory covers the entire world, and the possibility of expanding indications beyond retinal diseases is included.
Memento is a biotech that uses a NewCo model, in which a separate corporation is established around a specific asset to attract outside capital. It is structured to advance drug development and commercialization based on funding from global investment firms.
MT-103 is a bispecific antibody candidate that activates the Tie2 pathway, which keeps blood vessels stable, while suppressing VEGF (vascular endothelial growth factor), which drives abnormal blood vessel formation. Indications include wet age-related macular degeneration and diabetic macular edema, among other retinal diseases.
Curacle and MapTx signed a joint research and development agreement in July last year and have been jointly developing an antibody pipeline, including MT-103. The company said it recently delivered an oral presentation of MT-103's preclinical results at ARVO 2026, an ophthalmology meeting held in Denver.
A Curacle official said, "We plan to pursue the global development and commercialization of MT-103 based on Memento's capital strength and development expertise."