SEOUL -- JW Pharmaceutical, based in Seoul, signed a $402 million deal with Leo Pharma A/S, a Danish pharmaceutical and healthcare company, to license out JW1601, an ingesting form of atopic dermatitis treatment which simultaneously suppresses itching and inflammation.
The deal was signed Friday in Seoul between JW Pharmaceutical CEO Jeon Jae-kwang and Kim Kjoeller, Leo Pharma's executive vice president for global research and development. JW Pharmaceutical said the Dutch company has exclusive rights to develop and commercialize JW1601 in the world market except for South Korea.
The value of technology exports totaled $402 million and JW Pharmaceutical will receive royalties of up to double-digit rates based on net sales. JW1601, an innovative new drug candidate, is expected to greatly improve the convenience of patients with atopic dermatitis remedies that have been developed in ointments and injections.
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.