[Photo provided by GenNBio Inc.]
GenNBio Inc., a Korean organ transplant company, has signed an exclusive license deal with Genexine Inc. to commercially develop the latter’s two candidate molecules GX-P1 and BSF-110 into next-gen immunosuppressants with fewer side effects.
Under the deal valued at 191 billion won ($162.4 million), Genexine, a clinical stage biotechnology company, will receive 7 billion won in an upfront payment and is eligible for success-based development milestone and royalty payments on future sales.
The two companies signed a partnership agreement last July to jointly conduct non-clinical trials of the two molecules.
GenNBio aims to develop more sustainable immunosuppressant regimens to avoid immune reaction with fewer side effects in transplanted patients. Calcineurin inhibitors are commonly used to suppress or reduce the strength of the body`s immune system after organ transplantation but their long-term use can lead to side effects such as renal toxicity, malignant tumor and increased insulin resistance. To avoid these shortcomings, they are often used in combination with other immunosuppressive regimens with a different mechanism of action.
GenNBio said it will develop the two candidate molecules as its new growth engine.
By Kim Byung-ho and Minu Kim
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