Genexine said that it has licensed out BSF-110, a dual-fusion immunosuppressant that combines programmed death-ligand 1 (PD-LI) and modified Interleukin 10 (IL-10), to GenNBio.
|Genexine Chairman Sung Young-Chul (left) and GenNBio CEO Kim Sung-joo signed the licensing-out agreement at Genexine headquarters in Seongnam, Gyeonggi Province, on Tuesday.|
The technology transfer will include the GX-P1, a PD-L1 immunosuppressant candidate that will enter clinical trials this year.
Under the contract, GenNBio will acquire exclusive development and commercialization rights for both substances. At the same time, Genexine will receive a non-refundable deposit of 7 billion won ($6 million) from GenNBio on Tuesday, and a milestone of 184 billion won in the future.
If commercialized, Genexine can also receive additional royalties according to GenNBio's net sales.
As opposed to conventional immunosuppressant drugs, GX-P1 and BSF-110 use a new mechanism of action by binding to and inhibiting the activity of PD-1 in T cells.
It can be used for treating various autoimmune diseases such as rheumatoid arthritis, Sjogren's syndrome, Crohn's disease, systemic lupus erythematosus, and prevention of graft loss caused by T cells in various organ transplant patients.
According to the company, the drugs may show a similar effect while lowering the toxicity for treating transplant patients compared to conventional chemical-based immunosuppressive agents.
"We decided to license out the candidate after determining that Genenbio will be the best partner to carry out the development of our immunosuppressant candidates," Genexine Chairman Sung Young-Chul said.
GenNBio CEO Kim Sung-joo also said, "Through this agreement, we have secured a next-generation immunosuppressive candidate that will become our new growth engine."
As the development of new immunosuppressants is the key in the field of xenotransplantation, GenNBio has taken a step closer to realizing xenotransplantation by securing the new immunosuppressant pipeline, Kim added.