[Alpha Biz= Kim Jisun] NIBEC, a biotechnology company specializing in peptide-based drug development, announced on the 28th that it has signed a technology licensing agreement worth approximately KRW 600 billion (USD 435 million) with a U.S.-based pharmaceutical and biotech company for its fibrosis treatment candidate.



Under the agreement, NIBEC will grant exclusive global rights for the development and commercialization of its fibrosis treatment candidate, NP-201. The total value of the deal is USD 435 million (approximately KRW 595.3 billion), which includes an upfront payment of USD 8 million (approximately KRW 10.9 billion) and development milestone payments of up to USD 427 million (approximately KRW 584.3 billion). The upfront payment alone represents approximately 44.6% of NIBEC’s total revenue in 2023 (KRW 24.6 billion).



NIBEC will also be eligible to receive milestone payments within 60 days upon achieving cumulative sales milestones following the successful commercialization of NP-201. In addition, the agreement stipulates a 4% royalty on net sales generated from NP-201. The term of the agreement will continue until the later of either the expiration of the licensed patents or the point at which the licensed know-how is no longer considered confidential.



NP-201 is a peptide-based therapeutic candidate designed to regenerate damaged tissue through a novel mechanism, distinct from that of existing treatments. It was initially developed as a treatment for pulmonary fibrosis and successfully completed global Phase 1a clinical trials in 2023. It is currently being prepared for entry into Phase 2 trials.



Founded in 2004, NIBEC has over 20 years of experience in new drug development. Along with Peptron and Anigen, NIBEC is one of the few companies in South Korea to operate a GMP-certified peptide manufacturing facility (located in Jincheon). In addition to its drug development pipeline, the company also engages in the dental bone graft and collagen material businesses.

 

 

 

 

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