D&D Pharmatech's global licensing partner has entered Phase 2 clinical trials for a contrast agent candidate. Although the candidate was not directly licensed out by D&D Pharmatech, it falls within the scope of the company's foundational patent rights, entitling it to receive a milestone payment.
D&D Pharmatech announced Wednesday that it had been notified by a global radiopharmaceutical partner of the completion of first patient dosing in a Phase 2 trial for a fibroblast activation protein (FAP)-targeting PET contrast agent candidate.
In September 2021, before its listing, D&D Pharmatech signed a technology transfer agreement worth a total of $60.4 million (about 91.4 billion won) with a global radiological diagnostic imaging company. The agreement covers PMI07, a FAP-targeting PET contrast agent candidate held by Neuraly, its wholly owned U.S. subsidiary, and the license rights to related patents.
The candidate that has now entered Phase 2 trials is a separate pipeline being developed by the partner to diversify its portfolio. However, this candidate is also included within the technical scope of the FAP-targeting foundational patent held by D&D Pharmatech. Under the terms of the agreement between the two companies, D&D Pharmatech will receive a milestone payment for the Phase 2 entry.
"Multiple licensed products within the scope of the FAP-targeting patent rights are simultaneously making progress in the clinical stage," D&D Pharmatech CEO Lee Seul-ki said. "The potential for commercialization as a next-generation radiopharmaceutical platform spanning both diagnosis and treatment will be further expanded."
Meanwhile, PMI07, which D&D Pharmatech directly developed and licensed out, is progressing smoothly in Phase 1 and 2 trials at the University of Texas Southwestern Medical Center (UTSW). The trials are being conducted in patients with various solid tumors, including colorectal cancer, pancreatic cancer, and gastric cancer. Dr. Martin Pomper, a co-founder of D&D Pharmatech, is participating in the trials.
