South Korea-based Voronoi Inc. has licensed out its autoimmune disease treatment platform to Nasdaq-trading Brickell Biotech in an exclusive rights deal that could exceed $300 million.
Under the agreement, Voronoi will receive a down payment of $5 million and can receive up to $323.5 million depending on development milestones, the unlisted Korean precision drug developer said on Wednesday.
Brickell is led by executives involved in the development and marketing of blockbuster autoimmune disease treatments at global pharmaceutical companies such as Eli Lilly, Novartis, and Allergan. Brickell is currently conducting Phase 3 clinical trials of a drug for excessive sweating in the US.
Voronoi’s experimental drug inhibits the differentiation of helper T cells, which play a key role in inflammatory exacerbation, and can restore the balance of the compromised immune system by inhibiting DYRK1A kinase, responsible for intracellular signaling.
Brickell Biotech plans to use Voronoi’s inhibitor platform to develop therapies for autoimmune diseases and brain inflammation encephalitis. Phase 1 clinical trials will begin in 2022.
"We are convinced that the therapy with a new mechanism of restoring a compromised immune system can improve the lives of millions of patients suffering from inflammatory diseases," Brickell Biotech CEO Robert Brown said.
“We are excited to form a partnership with Brickell Biotech that have abundant experiences and knowledge,” said Kim Daekwon, chief executive officer of Voronoi. “We will continue to achieve results in the field of precision therapies to treat tumors with EGFR-C797S and HER2+.”
By Maeng Sung-gyu and Minu Kim
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]