[THE INVESTOR] Korean drug maker Yuhan said on Dec. 7 that it has signed a US$785 million deal with US biotechnology firm Gilead Sciences to export its new liver disease treatment technology.
The deal calls for the two companies to enter into a collaboration agreement to codevelop novel therapeutic candidates for the treatment of patients with advanced fibrosis due to nonalcoholic steatohepatitis (NASH), officials said.
Yuhan will maintain commercialization rights to develop and commercialize novel small molecules, with Gilead to acquire global rights, officials said.
Both will jointly conduct pre-clinical research, while Gilead will be responsible for global clinical development, corporate sources said.
The deal includes upfront payment of US$15 million, and Yuhan will receive another US$770 million in potential milestone payments upon achievement of certain developments, officials said.
Yuhan will be entitled to further royalties depending on future net sales, Yuhan said without disclosing more.
NASH is a chronic and progressive liver disease characterized by fat accumulation of more than five percent and inflammation in the liver. The disease, which currently has limited treatment, can lead to fibrosis that affects liver function.
By Song Seung-hyun and newswires (email@example.com)