Dong-A ST and Beactica Expand Their Research and Licence Agreement to Develop New Cancer Treatments
SEOUL, South Korea and UPPSALA, Sweden, 12 March ,2019 /PRNewswire/ -- Dong-A ST Co., Ltd. (170900: Korea SE), the Korean pharmaceutical company, and Beactica AB, the Swedish drug discovery company, today announced an expansion of their research and licensing agreement. The collaboration - which was initiated in October 2016 - is now expanded with an aim to jointly identify and develop novel small molecules targeting a protein-protein interaction of therapeutic relevance for immuno-oncology. The partnership further builds on Beactica's unique early-stage lead generation capabilities and DONG-A ST's strengths in the pharmacological proof of novel target concepts as well as downstream pre-clinical and clinical development of new therapeutic agents.
Under the terms of the additional agreement, Dong-A ST will gain exclusive global rights for the further development and commercialization of compounds discovered. In return, Beactica is eligible to receive research funding as well as milestone payments for certain research, preclinical, clinical and regulatory achievements as well as royalties on commercial sales of the products resulting from the partnership. Beactica is also entitled to a revenue share from any related future licensing activities by Dong-A ST. Full financial details remain undisclosed.
"The collaboration between Dong-A ST and Beactica brings together our complementary strengths and establishes a powerful platform for the discovery and development of next generation anti-cancer therapeutics," said Mr Daesik Eom, Chairman and CEO of Dong-A ST. "Beactica's capabilities and expertise accelerates the advancement of Dong-A ST's oncology pipeline and will enhance Dong-A ST's global competitiveness in the pharmaceutical industry."
"Following recent success in our collaboration we are pleased with Dong-A's confidence and trust to expand this partnership into new target areas," said Dr Per Källblad, CEO of Beactica. "As a long-term strategic partner we are proud to have delivered valuable contributions to Dong-A's research and look forward to a continued successful collaboration."
About Dong-A ST
Dong-A ST Co., Ltd. specializes in the discovery, development, manufacture and markets pharmaceutical products and medical devices worldwide. The company offers various prescription drugs, including Stillen (Gastritis 2002); Zydena (Erectile dysfunction , 2005); Motilitone (Functional dyspepsia, 2011); Suganon (TZDM, 2016) as well as biologics and biosimilar products. Once-daily IV/oral Sivextro (Tedizolid, ABSSSI) was also developed by Dong-A ST which was approved by US FDA and launched in US (2014) and EU (2015) by global partners. Dong-A ST has a strong oncology R&D division with immuno-oncology and epigenetic pipeline. Dong-A ST Co., Ltd. was founded in 1932 and is headquartered in Seoul, South Korea. It is listed on the Korean stock exchange. For more information, visit www.donga-st.com.
Beactica AB is a specialist drug discovery company, utilising its proprietary methodologies to evaluate the interactions of molecules in order to generate novel therapeutics. As well as progressing its own drug discovery programmes in areas of unmet medical need, Beactica offers partnerships for fragment-based lead generation using its proprietary discovery platform. Founded in 2006 based on research carried out at Uppsala University, Beactica has established a reputation as a world-leader in fragment-based drug discovery using SPR biosensor technology. For more information on Beactica, please visit www.beactica.com.
Beactica AB Contact
Tel: +46 18 56 08 80
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SOURCE Beactica AB