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Daewoong clinches W380b out-licensing deal with Chinese pharmaceutical firm

Sumary of Daewoong clinches W380b out-licensing deal with Chinese pharmaceutical firm:

  • Daewoong Pharmaceutical said Thursday that the company has out-licensed its gastroesophageal reflux disease agent Fexuprazan to Shanghai Haini Pharmaceutical for 380 billion won…
  • The deal included an upfront payment of 6.8 billion won and 13.6 billion won in milestone payments, the company added…
  • Under the agreement, Shanghai Haini has acquired rights to conduct clinical studies for the agent used to treat a digestive disorder…
  • Shanghai Haini would also be in charge of the entire approval process in China, while its parent company Yangtze River Pharmaceutical Group will be responsible for marketing the agent…
  • Daewoong Pharmaceutical expected that the company recent signing with one of China largest pharmaceutical groups could help Fexuprazan become a blockbuster agent in the Chinese market….

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