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Photo courtesy of Oscotec |
[Alpha Biz= Paul Lee] SEOUL, June 2 — Oscotec announced that it has entered into a licensing agreement with U.S.-based biotechnology company Agios Pharmaceuticals for its autoimmune disease drug candidate, cevidoplenib.
Under the agreement, Oscotec will grant Agios exclusive global rights to develop and commercialize cevidoplenib, receiving an upfront payment of $25 million.
The total deal value could reach up to $665 million, including development, regulatory and commercial milestone payments. Oscotec will also be eligible to receive royalties on future net sales following commercialization.
Cevidoplenib is an oral, selective small-molecule inhibitor targeting SYK (spleen tyrosine kinase), a key enzyme involved in immune response regulation. The drug candidate has been jointly developed by Oscotec and Genosco and has completed global Phase 2 clinical trials for immune thrombocytopenia (ITP) and rheumatoid arthritis (RA).
Revenue generated from the agreement will be shared between Oscotec and Genosco at a ratio of 75% and 25%, respectively, in accordance with prior contractual terms.
Agios Pharmaceuticals is a global biotechnology company focused on rare disease therapies. Its flagship drug, the pyruvate kinase (PK) activator mitapivat, has been approved in the United States and the European Union for the treatment of adult thalassemia and PK deficiency, and the company is currently pursuing additional indications.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
