TaiwanJ Pharmaceuticals Obtained US$26M Deal for Licensing and Co-Development Contract with Newsoara Biopharma on JKB-122 Asian Rights
HSINCHU, Taiwan, March 8, 2019 /PRNewswire/ -- TaiwanJ Pharmaceuticals has signed a US$26 million contract with Newsoara Biopharma to license out its drug candidate JKB-122 for further development in Asia. On March 2nd, 2019, TaiwanJ announced that its JKB-122, an effective phase 2 nonalcoholic fatty liver disease (NAFLD)/nonalcoholic steatohepatitis (NASH) drug candidate, had been successfully licensed out to Newsoara Biopharma Co. Ltd, a company located in Shanghai. Newsoara Biopharma, known for its capability of drug developments, will be responsible for the clinical development and market commercialization of JKB-122 in Asia, except Taiwan.
According to the agreement, TaiwanJ will receive US$2 million of upfront and up to US$24 million of milestone payments, which will be paid when each milestone in the development and commercialization process is achieved. The two companies are also working together to conduct preclinical research for JKB-122's second generation compound JKB-133. In addition, TaiwanJ will maintain its right of global clinical development and subsequent worldwide market commercialization.
JKB-122 is a small molecule and a long-acting TLR4 antagonist showing anti-fibrotic, immuno-modulating, and anti-inflammatory effects for the treatments of chronic liver diseases including Non-Alcoholic Fatty Liver Disease (NAFLD), Autoimmune Hepatitis (AIH), and Non-Alcoholic Steatohepatitis (NASH).
Meanwhile, global market research firm Research And Markets predicted that the NASH therapeutic market will grow at a CAGR of 58.4 % over 2021-2025, estimated from US$1.17 billion (2017) to 21.47 billion (2025). NASH is a serious liver disease affecting up to 10% of the adult population in the United States. This chronic condition is hallmarked by metabolic dysfunction and excessive fat accumulation in the liver, or steatosis, which may promote inflammation and hepatocellular injury, and in turn progress to cirrhosis that ultimately results with liver transplantation as the only viable treatment option.
About TaiwanJ Pharmaceuticals
TaiwanJ is a specialty pharmaceutical company dedicated to the development and commercialization of small molecules for unmet medical needs such as organ fibrosis, chronic organ inflammation of metabolic, autoimmune and infectious etiologies. In addition, novel steroid-sparing therapies for allergy/asthma are being pursued. The company is developing a rich pipeline of new chemical entities (NCEs) for therapy to address chronic liver diseases and cancers.
For additional information on TaiwanJ, please visit the Company's website at www.taiwanj.com for English http://www.taiwanj.com/pages/page_index_en, where you can review the Company's SEC filings, press releases, announcements and events.
Various statements in this release concerning TaiwanJ's future expectations constitute "forward-looking statements" within the meaning of the Taiwan Securities and Exchange Act. These statements include words such as "may," "expects," "anticipates," "believes," and "intends," and describe opinions about future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of TaiwanJ to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of these risks are: changes in relationships with collaborators; the impact of competitive products and technological changes; risks relating to the development of new products; and the ability to implement technological improvements. In addition, any forward-looking statements represent TaiwanJ's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. TaiwanJ does not assume any obligation to update any forward-looking statements unless required by law.
TaiwanJ Pharmaceuticals Co., Ltd.
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SOURCE TaiwanJ Pharmaceuticals Co., Ltd.