Bridge Biotherapeutics said it signed an exclusive license-in agreement with Shaperon for its GPCR19 (G protein-coupled receptor 19) agonist, coded BBT-209, to develop a novel therapy for idiopathic pulmonary fibrosis (IPF).

Under the accord, Bridge Bio will make an upfront payment of about 2 billion won ($1.63 million), with the potential deal value equating to around 39 billion won ($24.4 million), including upfront, milestone, and royalty payments, the company added.

"We are excited to license-in BBT-209, the first-in-class GPCR19 agonist for the treatment of IPF," Bridge Biotherapeutics CEO Lee Jung-kue said. "By jointly working with Shaperon, we will make the best effort to ensure the rapid advancement for our novel drug candidate, along with the other pipeline assets under the company's IPF lineup."

Shaperon Co-CEO Seong Seung-Yong and Lee Myung-Sea said, "We hope that BBT-209 will become a breakthrough therapy for patients with IPF, who currently lack treatment options."

The company will accelerate the development of innovative treatments to help improve the quality of life for patients suffering from rare diseases, such as IPF, through the partnership with Bridge Biotherapeutics, which has a proven track record in the global drug development business development, the two CEOs added.

According to Bridge Bio, Shaperon, has identified that BBT-209, a first-in-class GPCR19 agonist, controls GPCR19-P2X7 expressions and downregulates component proteins of NLRP3 to significantly suppress inflammation signaling networks by the compound's mode of action.

Through IPF animal models, Bridge Biotherapeutics has confirmed that the drug candidate shows treatment efficacy through its robust anti-inflammatory activities, and the company will utilize this data when developing the treatment.