Chinese radiotherapeutics company Full-Life Technologies has signed a licencing agreement with South Korean biotech company SK Biopharmaceuticals (SK Bio), worth $571.5m.
Under the terms of the agreement, SK Bio will obtain global rights to research, develop, manufacture, and commercialise Full-Life’s radiopharmaceutical compound FL-091.
Full-Life will receive $571.5m, including upfront payment, and development and commercial milestones, and is also eligible to receive royalties.
FL-091 is a small-molecule radioligand vector designed to deliver targeted radiation therapy to cancer cells by binding specifically to neurotensin receptor 1 (NTSR1).
In addition to the NTSR1-targeting Radionuclide Drug Conjugate (RDC) programme, SK Bio will also obtain rights to its backup compounds, to develop and commercialise an anti-cancer drug.
South Korean biotech company also holds a right of first negotiation to licence other pre-selected RDC programs of Full-Life.
SK Biopharmaceuticals president and CEO Donghoon Lee said: “The licensing agreement with Full-Life not only brings the two companies closer together for future collaborations in the fastest rising biotech sector but also most importantly, pushes SK Biopharmaceuticals forward to become a ‘Big Biotech’.
“Since the introduction of the company’s strategy roadmap to venture into radiopharmaceuticals last year, we have been on track toward our envisioned goal.
“We expect to further unveil and implement business plans for RPT (radiopharmaceutical therapy) this year, and actively pursue clinical development and commercialisation in the near future to provide treatment options and create new value worldwide.”
NTSR1 is a receptor protein that is selectively overexpressed in several cancer types, including colorectal cancer, prostate cancer, and pancreatic cancer.
The overexpression of NTSR1 has been linked to the disease progression of multiple cancer types, including colorectal, breast, pancreatic, and head and neck cancers.
In preclinical studies, FL-091 radioligands have delivered favourable biodistribution profiles and enhanced binding affinity to NTSR1, along with encouraging anti-tumour activities.
Full-Life is currently developing its alpha-emitter therapy candidate, 225Ac-FL-091, which targets NTSR1-positive tumours.
Full-Life CEO Lanny Sun said: “This agreement with SK Biopharmaceuticals highlights the potential of FL-091 in advancing cancer treatment and demonstrates SK Biopharmaceuticals’ unwavering commitment to building an oncology business around medical innovation.
“We look forward to future collaborations with SK Biopharmaceuticals, and to leveraging its expertise and resources to advance radiopharmaceutical therapy.
“The agreement is aligned with our strategic vision of fostering global partnerships and making a meaningful impact on patients worldwide.”
Last month, SK Bio signed an agreement to acquire a controlling stake in German contract manufacturing and development organisation (CDMO) IDT Biologika.
