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The Korea Herald
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THE INVESTOR
March 28, 2024

Market Now

Dong-A ST enters license agreement with NeuroBo Pharmaceuticals

  • PUBLISHED :January 18, 2018 - 15:34
  • UPDATED :January 18, 2018 - 15:34
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[THE INVESTOR] Dong-A ST (000640) said on Jan. 28 it has signed a license deal with NeuroBo Pharmaceuticals to grant the US firm exclusive rights to develop and commercialize its herbal drug candidate DA-9801 for diabetic neuropathy.

Under the contract, Dong-A ST will received upfront payment of US$2 million and a 5 percent stake in NeuroBo Pharmaceuticals.

The US biotech firm also agreed to pay Dong-A ST up to US$178 million milestone payments and additional sales-tied royalties if the drug candidate clears clinical and commercial milestones.

Dong-A ST completed phase 2 clinical studies of DA-9801 in patients diagnosed with Type 1 or Type 2 diabetes in 2015.

By Park Han-na (hnpark@heraldcorp.com

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