SK Biopharmaceuticals and Full-Life Technologies Announce Collaboration for New Therapy Targeting Multiple Solid Tumors
Wednesday, July 17, 2024
SK Biopharmaceuticals, a prominent global biotech company, has unveiled a substantial licensing agreement with Full-Life Technologies, a leading radiopharmaceutical company. This deal, valued at $571.5 million, grants SK Biopharmaceuticals exclusive global rights for the clinical research, development, manufacturing, and commercialization of Full-Life’s FL-091 radiopharmaceutical compound. FL-091 targets neurotensin receptor 1 (NTSR1) positive cancers, such as colorectal, prostate, and pancreatic cancers.
The agreement includes upfront payments, developmental milestones, and commercial achievements, but excludes royalties. This move signifies SK Biopharmaceuticals' strategic expansion beyond its core focus on central nervous system treatments into oncology, leveraging advanced modalities like radiopharmaceutical therapy (RPT) and targeted protein degradation (TPD).
FL-091, a small-molecule radioligand vector, is specifically designed to deliver targeted radiation therapy by binding to NTSR1 receptors, which are overexpressed in various solid tumors. The partnership also grants SK Biopharmaceuticals a first negotiation right for other predetermined radiodrug conjugate (RDC) programs from Full-Life.
This agreement represents a pivotal step in SK Biopharmaceuticals' growth strategy, positioning the company as a significant player in the global biotech sector, particularly in oncology. Donghoon Lee, CEO and President of SK Biopharmaceuticals, emphasized the company's commitment to advancing cancer treatment through innovative medical solutions and strategic global partnerships.
Source: skbp.com
