Daewoong Pharmaceutical and Vitalli Bio Enters into Global License Agreement to Develop DWP213388 for Autoimmune Disease
Shots:
- Through this agreement, Vitalli Bio will receive exclusive rights for developing and commercializing DWP213388 in the global market while Daewoong Pharmaceutical will retain rights in some Asian regions incl. Korea
- In exchange of this right, Vitalli Bio will pay a total of ~$477M incl. an upfront payment of ~$10M. Also, Vitalli Bio will be granted an option to license earlier-stage dual-target inhibitors in development by Daewoong
- DWP213388, a BTK and ITK inhibitor. In Aug 2022, the company received IND clearance from the USFDA to initiate the P-I clinical trial of DWP213388. In preclinical studies, it demonstrated excellent efficacy in various autoimmune diseases such as rheumatoid arthritis
Ref: PRNewswire | Image: Daewoong Pharmaceutical
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