STOCKHOLM, Dec. 4, 2019 /PRNewswire/ -- Dong-A ST Co., Ltd. (170900: Korea SE), a Korean pharmaceutical company, and Beactica Therapeutics AB, a Swedish drug discovery company, today announced that a lead compound meeting certain pre-defined criteria has been selected in their collaborative research programme aimed at developing first-in-class protein-protein interaction inhibitors for a target of therapeutic importance in cancer and other diseases.
The milestone transition provides Dong-A ST with exclusive global rights for further development and commercialization of products based on, or derived from, the lead compound. In return, Beactica receives an undisclosed milestone payment and is eligible to further payments for certain preclinical, clinical and regulatory milestones as well as royalties on commercial sales of the products resulting from the partnership. Beactica is also entitled to a revenue share from any related future licensing activities by Dong-A ST. Full financial details remain undisclosed.
"The collaboration between Dong-A and Beactica was initiated to develop next generation anti-cancer therapeutics and we greatly appreciate the phenomenal contribution Beactica has made in identifying novel modulators for a highly sought-after target," said Dr Taeyoung Yoon, Senior Vice President and Head of Research of Dong-A ST. "We are committed to advance this innovative programme with the ultimate aim to make a clinical impact where it is urgently needed."
"We are delighted to achieve this milestone under our collaboration with Dong-A, further validating the strength of our approach and drug discovery platform, as well as our success in collaborating globally with leading pharmaceutical companies," said Dr Per Källblad, CEO of Beactica. "Dong-A's commitment to advance this programme towards the clinic is encouraging."
The collaboration between Dong-A ST and Beactica Therapeutics was initiated in October 2016 and expanded in December 2018.
Dong-A ST Co., Ltd. Contact
Beactica Therapeutics AB Contact
Per Källblad M.Sc. Ph.D.
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