AsianScientist (Mar. 12, 2019) – ASLAN Pharmaceuticals, a clinical-stage oncology-focused biopharmaceutical company, and BioGenetics Co Ltd, a South Korean healthcare company, will collaborate to commercialize varlitinib—a small molecule inhibitor drug—for all indications in South Korea.
ASLAN will grant BioGenetics exclusive rights to commercialize varlitinib in South Korea in exchange for an upfront payment of US$2 million and up to US$11 million in sales and development milestones. ASLAN is also eligible to receive tiered double-digit royalties on net sales up to the mid-twenties.
All clinical development activities for varlitinib will continue to be undertaken by ASLAN, while BioGenetics will be responsible for obtaining initial and all subsequent regulatory approvals of varlitinib in South Korea.
“We are delighted to partner with a team that brings strong knowledge of the South Korean regulatory and commercial environment. We believe BioGenetics is well placed to maximize the value of varlitinib in biliary tract cancer (BTC) and potentially other tumor types in the future,” said Dr. Carl Firth, CEO of ASLAN Pharmaceuticals.
Mr. Ahn JooHoon, CEO of biopharma at BioGenetics, also noted that BTC is one of the ten most prevalent cancers in South Korea. Hence, he hopes that the partnership with ASLAN will help address this pressing need in oncology.
Source: Aslan Pharmaceuticals; Photo: Shutterstock.
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