Oscotec signed a technology transfer agreement with Agios Pharmaceuticals, Inc., a U.S. biotech company, for the autoimmune disease treatment candidate "Cevidoplenib."
On the 1st, Oscotec said it will transfer the global exclusive development and commercialization rights for Cevidoplenib to Agios and receive an upfront payment of $25 million (about 37.5 billion won).
Including milestones for development, approval and commercialization, the total deal value is up to $665 million (about 1 trillion won), and separate royalties will be paid after commercialization.
Cevidoplenib is an oral small-molecule new drug candidate that selectively inhibits SYK (Spleen Tyrosine Kinase), a key enzyme that regulates immune responses, and was co-researched and developed by Oscotec and Genosco. The candidate completed global phase 2 trials for immune thrombocytopenia (ITP) and rheumatoid arthritis (RA).
Revenue from the technology transfer will be split between Oscotec and Genosco at 75% and 25%, respectively, under existing contract terms.
Agios Pharmaceuticals is a global biotech company specialized in the development and commercialization of rare disease treatments. Its key new drug, the pyruvate kinase (PK) activator "mitapivat," has been approved as a treatment for adult thalassemia in the United States and the European Union (EU), and has also received approval in the United States and Europe for adult PK deficiency. Agios is currently pursuing label expansion in the United States.
Oscotec CEO Yoon Tae-young said, "Following the completion of phase 2 for Cevidoplenib, we have been in discussions with multiple global corporations and determined Agios, with its expertise in rare hematologic diseases, to be the optimal partner." Yoon added, "We expect Cevidoplenib to grow into a global therapy through Agios' development capabilities."
With this agreement as a catalyst, Oscotec plans to fully ramp up the global commercialization of its autoimmune disease pipeline while focusing its research and development (R&D) strategy on anti-resistance anticancer therapies going forward.
Separately, in March, Oscotec signed a co-development agreement with Yatiri Bio in the United States for the acute myeloid leukemia (AML) treatment candidate "Denfivontinib."