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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Samchundang Pharm has signed a licensing-out agreement with a U.S.-based company for its oral semaglutide candidate, a generic version of Novo Nordisk’s Rybelsus and oral Wegovy.
According to a regulatory filing on March 30, the deal includes milestone payments of up to $100 million (approximately KRW 150.9 billion). In addition, Samchundang Pharm will receive 90% of the partner’s product sales revenue for 10 years from the first commercial launch.
Details regarding the counterparty and specific contract terms were not disclosed. Revenue recognition under the agreement is conditional and may vary depending on regulatory approvals and other development outcomes, with the possibility that some milestones may not be realized.
Samchundang Pharm attributed the deal to its proprietary “SNAC-Free” technology. Novo Nordisk, the developer of Wegovy, holds formulation patents related to the absorption enhancer SNAC through 2039. However, Samchundang Pharm stated that it has developed an alternative absorption mechanism using its proprietary S-PASS platform, enabling high bioavailability without SNAC and effectively bypassing patent constraints.
The company added that it plans to focus its resources on advancing follow-up pipelines based on the S-PASS platform, including global clinical trials for oral insulin, with key results expected later this year.
Earlier in February, Samchundang Pharm also signed an agreement granting exclusive commercialization rights for its obesity and diabetes treatment candidate across 11 European countries. The deal included an upfront payment and milestone payments totaling €30 million (approximately KRW 50.8 billion), although detailed terms and the counterparty were not disclosed.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
