On June 17, 2022 KYORIN Holdings, Inc. reported that KYORIN Pharmaceutical Co., Ltd. (Head office: Chiyodaku, Tokyo; President & CEO: Shigeru Ogihara, hereinafter KYORIN), a subsidiary of KYORIN Holdings, Inc., signed a joint development and license agreement with CellGenTech Inc. (Head office: Chiba-shi, Chiba; President & CEO: Masayuki Aso, hereinafter CellGenTech) for genetically modified human adipocytes (hereinafter GMAC) of Fabry disease that has been developed by CellGenTech (hereinafter this Agreement) (Press release, Kyorin, JUN 17, 2022, View Source [SID1234616062]).
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Under this Agreement, KYORIN has acquired an exclusive license to develop and commercialize a new product in the treatment of rare and refractory disease known as Fabry disease using GMAC and CellGenTech’s technology. KYORIN will pay CellGenTech for an upfront payment and milestone payments depending on the progress in the development and commercialization of the product as well as tiered royalties on the sales of the product. KYORIN has also acquired the option to develop and commercialize GMAC for another disease.
CellGenTech, a biotech venture founded in 2003 with an origin in Chiba University, is making efforts to develop treatment agents using its unique technology, GMAC, to improve quality of life of patients in intractable or rare diseases and their family (hereinafter QOL).
GMAC is the genetically modified human adipocytes with an ability to produce insufficient enzyme or protein in patients by inducing gene encoring functional treatment enzyme or protein pre-adipocytes isolated from their own subcutaneous fat. GMAC is expected to contribute to the treatment of Fabry disease and the improvement of QOL by supplementing insufficient enzyme over years by one dose.
KYORIN has set forth the priority strategy "Enhance pipeline to support medium-term growth" in the medium-term management plan "HOPE100-stage 3-" and has been actively involved in in-licensing product for intractable or rare diseases.
Under this Agreement, KYORIN actively promotes development to provide the treatment agents for patients of Fabry diseases, which is high unmet medical needs, as soon as possible and aims to become globally recognized company by creating innovative new drugs. The impact of the execution of this Agreement on the consolidated financial forecast for the fiscal year ending on March, 2022 will be minor.