April 17, 2024

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[THE INVESTOR] HanAll Biopharma, a subsidiary of Daewoong Pharmaceutical, is negotiating with a Japanese company for a possible licensing deal to grant exclusive rights to its anti-FcRn monoclonal antibody HL161 in the Japanese market, the firm’s chief executive officer said on Jan. 30.

“We had a meeting with a Japanese firm interested in the drug candidate during JP Morgan Healthcare Conference held earlier this month and the talks are still on,” said Park Seung-kook, CEO of HanAll BioPharma. 

HanAll BioPharma CEO Park Seung-kook

If the deal is reached, the Japanese company will become the third partner to co-develop and commercialize HL161 following multibillion dollar pacts last year.

In September, HanAll Biopharma inked a US$81 million agreement with Shanghai-based Harbour BioMed to grant rights to HL161 in Greater China. It also licensed the autoimmune disease treatment to Switzerland-based biotech startup Roivant Sciences in a deal that has a potential value of US$502.5 million in December. The contract gives Roivant Sciences rights for North America, Latin America, EU, Middle East and North Africa.

Park hinted that the licensing deal would be finalized in four months.

“Roivant Sciences craves for the Japanese license as well. If we fail to close the deal with the Japanese company by the end of June, we will go with Roivant,” Park said.

By Park Han-na (hnpark@heraldcorp.com)