Daewoong Pharmaceutical and Vitalli Bio enter Global License Agreement for autoimmune disease candidate
pharmafile | April 28, 2023 | News story | Research and Development |
South Korean Daewoong Pharmaceutical and US biotechnology company Vitalli Bio – a portfolio company of Aditum Bio – have announced that they have signed a Global License Agreement for Daewoong’s autoimmune disease candidate DWP213388.
DWP213388 targets Bruton’s Tyrosine Kinase (BTK) and Interleukin-2-inducible T-cell kinase (ITK), both involved in the activation of immune cells such as B-cells and T-cells. Unlike existing treatments which inhibit only B-cells or T-cells, DWP213388 can inhibit both simultaneously.
In August 2022, Daewoong received US Food and Drug Administration (FDA) approval for an Investigational New Drug (IND) application to begin a phase 1 trial for DWP213388.
Within the agreement, Daewoong will grant exclusive rights to Vitalli to globally develop and commercialise DWP213388 and Daewoong will receive over $10m in upfront commitments, with the whole deal being worth $477m. Vitalli will also have the option to license early-stage dual target inhibitors in development by Daewoong.
Jeon Sengho, CEO of Daewoong Pharmaceutical, said: “We are very pleased that this Agreement proves not only the excellence of DWP213388, but also Daewoong Pharmaceutical’s new drug development technology. Daewoong Pharmaceutical will continue to introduce innovative new drugs that are recognised in the global pharmaceutical market.”
Aditum Bio CEO, Joe Jimenez, said: “Aditum Bio has been very impressed with the biotechnology research capability of Daewoong, and are looking forward to working together to bring this new therapy to patients in need.”
James Spargo
