Gan & Lee and JW Pharmaceutical agree on the commercialization of bofanglutide
Gan & Lee Prescribed drugs has entered into an unique licensing settlement with JW Pharmaceutical for the medical improvement, regulatory approval and commercialization of bofanglutide injection in South Korea.
Bofanglutide is a biweekly glucagon-like peptide-1 receptor agonist (GLP-1RA) found and developed by Gan & Lee.
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Underneath the settlement, JW Pharmaceutical will acquire unique rights to develop and commercialize the shot.
Gan & Lee will leverage JW Pharmaceutical’s strengths in R&D to construct a industrial presence within the South Korean metabolic illness market.
Gan & Lee will obtain a non-refundable upfront cost of $5 million, with milestone funds of as much as $76.1 million relying on analysis, regulatory and commercialization targets.
The corporate can even obtain tiered royalties on internet gross sales, bringing the overall potential transaction worth to $81.1 million, excluding royalties.
That is the third abroad licensing settlement for Bofanglutide, following comparable agreements in India and Latin America.
Bofanglutide has entered section III medical trials focusing on indications akin to weight problems/obese, diabetes mellitus kind 2 and obstructive sleep apnea.
Knowledge reveals that the injection reduces physique weight and blood sugar ranges whereas beneficially affecting metabolic parameters, with a security and tolerability profile similar to different GLP-1RA therapies.
The biweekly dosing schedule minimizes the annual variety of injections by half in comparison with commonplace once-weekly options.
Dr. Zhi Li, Chief Enterprise Officer of Gan & Lee Prescribed drugs, stated: “This collaboration with JW Pharmaceutical marks one other important step within the globalization technique for bofanglutide. GLP-1 therapies are reshaping the worldwide remedy panorama for metabolic ailments.
“The comfort of biweekly dosing of Bofanglutide and its compelling medical advantages will assist handle the unmet medical wants of South Korean sufferers. With greater than 80 years of expertise, JW brings deep improvement and industrial experience in metabolic ailments – a key think about our choice to companion with JW.”
