Bioasis Technologies Inc. announced that it has entered into a research collaboration and license agreement with Neuramedy Co Ltd. (Neuramedy) of Seoul, Korea. Neuramedy is a biotech company researching and developing innovative solutions for neurodegenerative diseases. The company aims to provide disease modifying treatments for Parkinson's disease and other synuclein related diseases.

Under the terms of the agreement, Neuramedy has obtained worldwide rights to research, develop and commercialize an xB3TM version of its antibody, Tomaralimab, directed at the Toll-like receptor 2. Tomaralimab is currently in development for the treatment of Parkinson's disease and Multiple System Atrophy. Bioasis will receive an upfront payment and may receive an additional USD 72 million in milestone payments and a royalty on net sales.