SK Biopharmaceuticals Introduces Novel Parkinson’s Disease Treatment

[Financial News] SK Biopharmaceuticals has signed an agreement to bring in a novel drug candidate for Parkinson’s disease. The deal is worth up to KRW 430.8 billion.
SK Biopharmaceuticals announced on the 17th that it had obtained an exclusive worldwide license for a c-Abl/LRRK2 dual inhibitor being developed by 1ST Biotherapeutics as a treatment for Parkinson’s disease.
The deal is worth up to KRW 430.8 billion. The non-refundable upfront payment is KRW 2.5 billion and will be paid within 30 business days of the date of the announcement.
Development, regulatory, and commercial milestones total up to KRW 72.5 billion, while net-sales milestone payments are set at up to KRW 355.8 billion. The company will also pay running royalties based on future net sales of the product.
1ST Biotherapeutics will conduct the research needed to finalize the preclinical candidate (PCC). Once the preclinical candidate is finalized, SK Biopharmaceuticals will take charge of subsequent development.
The company stated, "Costs recognized under this agreement may vary depending on the success of clinical trials and regulatory approval," adding, "The agreement may be terminated if research and development is halted by a regulatory agency or if product approval is denied, among other circumstances, in accordance with the contract terms."
[email protected] Han Young-jun Reporter