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.”
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