Dong-A ST Co., Ltd. Enters into License Agreement with AbbVie, Inc
January 01, 2017
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Dong-A ST Co., Ltd. has entered into license agreement with AbbVie Inc. for the global development and commercialization of its investigational immuno-oncology drug Mer tyrosine kinase inhibitor (Mer TKI). Under the terms of the multi-year agreement, Dong-A ST will receive $40 million upfront. It is eligible to receive $485 million if certain development, regulatory and commercial milestones are met and royalties of up to 10% on Mer TKI sales. Upon the completion of the pre-clinical study to be jointly led by the two companies, AbbVie will be responsible for global development and regulatory filings. AbbVie will get global marketing rights for the product after development, while Dong-A ST will hold marketing rights in Korea.
Dong-A ST Co Ltd is a Korea-based company mainly engaged in the production and sale of pharmaceuticals. The Company is involved of the manufacturing and sale of gastric mucosal protective agents, antihistamines, ischemic modifiers, antithrombotic agents, functional dyspepsia, hyperlipidemia, growth hormone, peptic ulcer treatments, cerebral metabolism improvement and hypertension treatments. It produces and sells diagnostic reagents for hepatitis E, I, A and B. In addition, it is engaged in the production and sale of medical devices including implants for artificial joint and maxillofacial surgery. The Company distributes its products in domestic and overseas markets such as Brazil, Turkey and Cambodia.