Quantum Genomics has entered into an exclusive licensing and collaboration agreement with DongWha Pharm to develop and commercialize firibastat in the Republic of Korea. After its last partnership in China, this new agreement is the third step of Quantum Genomics’ partnering strategy in Asia.
Under the terms of the agreement, DongWha will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in South Korea. Additionally, DongWha will join the global study of difficult to treat/resistant hypertension in South Korea.
Quantum Genomics will receive upfront and milestone payments amounting up to $18.5 million, plus double-digit royalties on sales.
The population suffering from difficult to treat and resistant hypertension in the above territories is estimated to be about one million.
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“Located in Seoul, DongWha Pharm is the perfect partner to launch firibastat in South Korea. For 120 years, DongWha Pharm has established various infrastructures including R&D, distribution and a strong sales organisation close to Key Opinion Leaders. Since 1970, DongWha Pharm has achieved and maintained long-term partnerships with global pharmaceutical companies, among them Leo and Menarini,” Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics said. “We are very much looking forward to working with DongWha Pharm on the clinical studies and then on the launch of firibastat.”
“We are pleased to sign an exclusive contract for Firibastat of Quantum Genomics. Firibastat is a new class of drug entity that will satisfy the unmet needs of patients with difficult-to-treat/resistant hypertension or heart failure, and we believe that this partnership will increase our market share in the cardiovascular field. In addition, we will continue to expand our pipelines through the open innovation,” Ki-Whan Park, President and CEO of DongWha Pharm said.