Daewoong Pharmaceutical(CEO Seng-ho Jeon and Chang-jae Lee) has secured an exclusive licensing agreement with CS Pharmaceuticals (“CSP”), a UK based multinational company focused on the development and commercialization of rare disease and ophthalmology products in China, for a first-in-class PRS inhibitor Bersiporocin in Greater China region, including China, Hong Kong, Taiwan, and Macau.
Under this agreement, CSP will in-license Bersiporocin for Idiopathic Pulmonary Fibrosis (IPF) and potentially other fibrotic indications for a total consideration of up to $336M, including up to $76M in Upfront and Development milestone payments and double-digit royalties on Net Sales.
Under the terms of the agreement, Daewoong will grant CSP exclusive development and commercialization rights to Bersiporocin in IPF and other respiratory indications.
Bersiporocin is a first-in-class antifibrotic agent that is being developed by Daewoong. CSP is focused on licensing Chinese commercialization rights to international rare disease and ophthalmology medicines.
Idiopathic Pulmonary Fibrosis is a rare, progressive lung disease in which thickening and hardening of lung tissues cause decline of lung function. It is a life-threatening disease with a 5-year survival rate less than 50% at diagnosis. There are available treatments for IPF, Ofev from Boeheringer Ingelheim and Esbriet from Roche, yet there is still tremendous unmet medical needs as these treatments have limited therapeutic benefits to patients.
Bersiporocin has been granted US FDA Orphan Drug Designation as well as FastTrack Designation for IPF. In 2022, Daewoong initiated a multi-regional Phase 2 clinical trial for IPF. This study is being supported by Korea Drug Development Fund.
