UPDATE : Tuesday, December 18, 2018
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Intron Bio inks ₩750 billion licensing deal for anti-superbug drug
  • By So Jae-hyeon
  • Published 2018.11.20 15:00
  • Updated 2018.11.20 16:21
  • comments 0

Intron Biotechnology said it has signed a landmark deal for an investigational treatment for diseases caused by super bacteria.

The biotech firm announced on Tuesday that it clinched the licensing-out deal with Roivant Sciences for SAL200, a novel biologic to combat super bacteria.

The deal is worth $667.5 million (752.6 billion won), and Intron Bio is to separately receive running royalties on net sales in low double digits under 20 percent, after commercialization.

Roivant Pharma President Mayukh Sukhatme (left) and Intron Biotechnology CEO Yoon Kyung-won celebrate the signing of a licensing-out deal in the U.S. on Monday.

The Korean company will receive $10 million upfront payment. Then, it will subsequently get $30 million as a milestone payment when the first patient gets the treatment in a phase-2 trial in the U.S., scheduled next year.

The agreement includes an option for Roivant to license Intron Bio’s non-clinical stage, anti-Gram-positive endolysin pipelines, including anti-VRE (vancomycin-resistant enterococcus) and anti-TB(tuberculosis) biologics for $45 million each.

Also, Roivant will have the "first right of offer" for Intron Bio’s anti-Gram-negative platform. Depending on achievements, Intron Bio will be paid up to $627.5 million (700 billion won).

Roivant said it would establish a subsidiary dedicated to globally developing and commercializing Intron Bio’s endolysin products. The company plans to start a phase-2 study on SAL200 in the U.S. in 2019.

“We’re conducting phase-2a and 1b trials using the technology in Korea,” Intron Bio said. “When the problem of antibiotic-resistant bacteria is becoming more serious around the globe, the two companies will work together to lead the global market in the post-antibiotic era, using the endolysin platform.”

sjh@docdocdoc.co.kr

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