SEOUL– Daewoong Pharmaceutical Co., a leading South Korean drugmaker, said Tuesday that it has signed a deal to grant CS Pharmaceuticals (CSP), a British biotech company, exclusive development and commercialization rights to its new prolyl-tRNA synthetase (PRS) inhibitor, Bersiporocin.
Under the agreement, CSP, focusing on developing medicine for rare diseases in China, will conduct a phase 3 clinical trial of Bersiporocin and commercialize the drug in the Greater China region, including mainland China, Hong Kong, Taiwan and Macau, according to Daewoong.
The Korean firm said it will receive up to US$336 million in loyalty from the licensing deal.
Bersiprorocin, or DWN12088, is a novel PRS inhibitor as an anti-fibrotic agent developed by Daewoong. A phase 2 clinical trial for the drug material has been approved in the United States and South Korea.
It has received a fast track designation for the idiopathic pulmonary fibrosis (IPF) by the U.S. Food and Drug Administration. It was financed by the state-run Korea Drug Development Fund.
Source: Yonhap News Agency