Oscotec (039200.KQ) has signed a technology transfer agreement worth up to 1 trillion won with U.S.-based Agios Pharmaceuticals (Agios) for an autoimmune disease drug. The deal reflects the company's strategy to divest non-core products and concentrate on research and development (R&D) of resistance-targeting cancer drugs, its key pipeline.
Oscotec said Monday it had signed a technology transfer agreement with Agios for "cevidoplenib," an autoimmune disease drug candidate. The non-refundable upfront payment is $25 million (about 37.5 billion won), and including milestones tied to development, approval and commercialization, the deal is worth up to $665 million (about 1 trillion won). The company will also receive separate royalties after commercialization.
Cevidoplenib is a compound discovered and developed jointly by Oscotec and its subsidiary Genosco. It blocks inflammatory responses by inhibiting SYK, a protein overexpressed in various immune cells including B cells and macrophages. Oscotec previously completed global Phase 2 clinical trials of cevidoplenib for immune thrombocytopenia and rheumatoid arthritis. In the Phase 2 immune thrombocytopenia trial completed in 2023, the drug demonstrated strong competitiveness in safety, tolerability and efficacy. In 2024, it was designated an orphan drug by the FDA for the treatment of immune thrombocytopenia.
Agios is a global new drug development company specializing in rare blood diseases. It developed and obtained approval for "mitapivat," a treatment for adult thalassemia, and is developing "tebapivat," a treatment for sickle cell disease. Under the agreement, the technology fees including the upfront payment and milestones received from Agios will be distributed between Oscotec and Genosco at 75% and 25%, respectively.
With this deal, Oscotec has once again demonstrated its global-level new drug development competitiveness and can now focus on R&D of resistance-targeting cancer drugs, its core mid- to long-term pipeline. Oscotec previously licensed Leclaza, a non-small cell lung cancer treatment, to Yuhan Corporation, and last year licensed "ADEL-Y01," an Alzheimer's disease treatment co-developed with ADEL, to Sanofi. More recently, the company selected resistance-targeting cancer drugs as its core R&D field, launched Phase 1 clinical trials of "OCT-598," and established a new "core technology team" dedicated to the resistance-targeting cancer drug platform within its research institute.
"Since the completion of cevidoplenib's Phase 2 clinical trials, we have discussed technology transfers with many companies, but we determined that Agios, with its outstanding expertise in rare blood diseases, would be the optimal partner to maximize cevidoplenib's value," said Yoon Tae-young, CEO of Oscotec. "Based on Agios's expertise, we hope cevidoplenib will continue its multifaceted challenges and be reborn as a new drug that brings hope to patients around the world."
