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(Photo=HK Innon) |
[Alpha Biz= Reporter Kim Sangjin] On the 16th, HK inno.N announced that it has transferred the technology for its autoimmune disease antibody drug candidate 'OXTIMA' to China’s Huadong Medicine. This deal, valued at $315.5 million (approximately 430 billion won), includes an upfront payment of $8 million (about 10.9 billion won).
This is the second major technology transfer for HK inno.N this year, following a contract with Navigator Medicine in the U.S. in June. The agreement with Huadong Medicine covers Asia, excluding South Korea, North Korea, and Japan. Under the contract, HK inno.N will receive a share of the total deal amount and additional royalties based on sales post-launch.
The deal with Huadong Medicine, a subsidiary of Huadong Medicine Group and one of China’s top 10 pharmaceutical companies by annual revenue, focuses on developing antibody-drug conjugates (ADCs), immune disease antibodies, and biosimilars. Including the global technology transfer deal with Navigator Medicine, the total contract value for HK inno.N this year amounts to approximately $1.26 billion (around 1.7 trillion won).
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
