Lipigon Pharmaceuticals has entered a development and license agreement for its clinical-stage drug candidate Lipisense with Leaderna Therapeutics.
The new agreement specifically involves the development and licensing of the drug in Greater China. Leaderna will be responsible for the development and commercialization of Lipisense in mainland China, Hong Kong, Taiwan and Macau (collectively known as Greater China). Lipigon will retain global development and commercial rights outside of Greater China.
The most important thing is that we get external validation for our drug candidate.”
As part of the agreement, Lipigon will receive an upfront payment and could also receive milestone payments up to a total value of 91 million USD.
”It’s great to have the money coming in – even though it is ‘Biotech bucks’ and much of it will be paid out in the future for each milestone we reach. There may, in addition, be royalties due above the 91 million USD,” says Stefan K Nilsson, CEO of Lipigon. “The most important thing is that we get external validation for our drug candidate. Leaderna has done its due diligence with its knowledgeable team of people, which means our work is recognized and validated.”
The money from the agreement with Leaderna provides capital for both our Lipisense program and the other projects we are developing.”
The company’s drug development work focuses on four key projects designed to help patients with disorders caused by the body’s handling of fats. Lipisense is an investigational antisense medicine designed to reduce the production of ANGPTL4 protein in the liver. ANGPTL4 has a strong genetic association with plasma lipid levels and related diseases such as cardiovascular disease and type 2 diabetes. Lipisense is currently being evaluated in a Phase 1 study of healthy volunteers.
”The money from the agreement with Leaderna provides capital for both our Lipisense program and the other projects we are developing. This provides us with a cash buffer after the completion of Phase II, and it is a real feather in our cap to reach such a substantial agreement even before the end of Phase I,” says Stefan K Nilsson. ”The next step in the development of Lipisense is the completion of the Phase I study within a few weeks. Following this milestone our goal is to achieve a seamless and smooth transition into Phase II.”
Source: Umeå Biotech Incubator
Photo of Stefan K Nilsson: Patrick Trädgårdh