Naivek, Jackpot with US Bio Company for 24 Times Revenue L/O "6 Trillion Won Technology Transfer"

[Financial News]  Naivek has achieved a feat by signing a technology transfer contract worth 6 trillion won (435 million dollars) with a US bio company. Naivek announced on the 29th through a disclosure that it has signed a technology transfer contract for its main pipeline 'NP-201'. This contract is more than twice the market capitalization of Naivek and 24 times its sales last year (about 24.5 billion won).
Under this technology transfer contract, Naivek will receive an initial contract payment of 10.9 billion won (8 million dollars). Subsequently, Naivek is expected to receive milestone revenues of up to 584.3 billion won (427 million dollars) depending on the progress of NP-201's clinical and commercialization.
In addition to this contract, Naivek is discussing additional matters regarding the manufacturing supply if it succeeds in developing a new drug as well as clinical samples. Naivek is expected to secure sufficient supply capacity using its own cGMP plant facilities, so related sales are also anticipated.
Meanwhile, the counterpart pharmaceutical company is a research and development specialized company headquartered in the United States, specializing in pulmonary diseases.
The company explained that this contract was conducted in recognition of NP-201's safety, excellent efficacy, and commercialization potential. The counterpart pharmaceutical company will pay Naivek milestones for the global exclusive license each time clinical results are secured after the completion of each indication development stage. Depending on the development stage, Naivek can also secure additional data through a joint research contract.
Regarding this, a Naivek official said, "The counterpart pharmaceutical company is specialized in the treatment of pulmonary diseases and fibrosis, and the main researchers who founded the company have experience in successfully developing a 'rare autoimmune disease treatment' approved by the FDA, so they have sufficient experience and capabilities to develop NP-201 as a global new drug," adding, "Our technology and the market potential of NP-201 have been recognized, so we plan to actively promote the technology transfer of subsequent pipelines by accelerating entry into the global market starting with this contract."
He continued, "This technology transfer is significant in that the commercialization of Naivek's own pipeline is accelerated," and emphasized, "Naivek has multiple pipelines that global pharmaceutical companies are paying attention to, including NP-201, anti-aging, K-RAS inhibitory anticancer new drugs, sustained drug delivery systems, and the drug delivery platform PEPTARDEL, including the BBB shuttle, so the achievements such as license-out will continue."


kakim@fnnews.com Kyung-Ah Kim Reporter