Beactica Therapeutics and Oscotec, a Korean drug development company, have announced a new research development and licensing agreement.
The two companies will initially jointly collaborate concerning research and early preclinical development of novel anticancer drug candidates arising out of Beactica’s LSD1 programme. Oscotec may thereafter opt to take full responsibility for clinical development and commercialization, states Beactica in a press release.
Up to EUR 149 million in potential preclinical, clinical and regulatory milestones
Under the terms of the agreement, Oscotec is entitled to gain exclusive global rights for further development and commercialization of Beactica’s programme. Beactica is eligible to receive up to EUR 149 million in potential preclinical, clinical and regulatory milestones, including an upfront and equity payment from Oscotec upon signing of the agreement.
Beactica is also eligible to receive double-digit royalties on commercial sales of the products resulting from the partnership, it states. The company is also entitled to revenue shares from any related future licensing activities by Oscotec. Full financial details remain undisclosed.
“This is a landmark agreement for Beactica, and we are delighted to be working with Oscotec,” says Per Källblad, CEO of Beactica Therapeutics. “Their commitment to building a strong clinical pipeline of targeted therapeutics in immunology and oncology makes Oscotec an ideal partner for our programme.”
Photo of Per Källblad: Ewa Ahlin