UK and U.S. firms sign separate contracts for 슬롯 머신’s anticancer drug subcutaneous injection formulation development
[by Lee, Young Sung] 슬롯 머신 announced on March 17 that it had entered into a global exclusive license agreement with MedImmune Limited, a subsidiary of AstraZeneca, on March 15 (local time), for the development and commercialization of AstraZeneca's anticancer drug subcutaneous injection (SC) formulation.
The development of this injection will incorporate 슬롯 머신's hybrid platform-based human hyaluronidase technology (ALT-B4). The total value of the contract, including the upfront payment and milestone-based payments, amounts to KRW 2 trillion (approximately USD 1.3 billion). MedImmune will oversee global biotechnology research and development (R&D).
The agreement is structured into exclusive licensing contracts for the UK and U.S. subsidiaries. Under the UK agreement, 슬롯 머신 is entitled to receive an upfront payment of USD 25 million (approximately KRW 36.37 billion) and up to USD 725 million in milestone payments, contingent on the completion of clinical trials, regulatory approvals, and commercialization. The U.S. subsidiary’s contract includes an upfront payment of USD 20 million and milestone payments of up to USD 580 million.
Furthermore, both agreements stipulate that 슬롯 머신 will receive a percentage of net sales as royalties (current technology fee) after the first commercial sale of a product using ALT-B4. “The contract payments will be received within 30 days from the effective date of the contract (by April 16),” 슬롯 머신 stated. “The upfront payment, milestone payments, and sales royalties secured under this contract are non-refundable,” they added.