LEO Pharma A/S (Denmark) and JW Pharmaceutical (South Korea) announced, that they have signed a global licensing agreement for JWP’s novel atopic dermatitis drug candidate, JW1601.
Under the agreement, LEO Pharma, a global leader in medical dermatology, will gain the exclusive rights to develop and commercialize JW1601 globally excluding Korea where JWP will maintain its exclusivity. JWP will receive $17 million as upfront fee and stepwise development and sales milestone in sum of up to $385 million.
JW1601 is an innovative new drug candidate developed by C&C Research Laboratories, a research and development company which is one of the affiliates of JWP. In May 2017, JWP acquired the global exclusive rights to develop and commercialize JW1601 and plans to submit Investigational New Drug application (IND) for Phase 1 clinical trial within this year.
JW1601 has a dual mechanism of action that blocks the activation and migration of the immune cells that cause atopic dermatitis by selectively acting on the histamine H4 receptor and inhibiting the histamine signaling that causes itching. The drug is expected to show good efficacy because it has both anti-pruritic (anti-itch) and anti-inflammatory effect whereas the competing substances only show the efficacy in anti-inflammatory. Also, it is expected to demonstrate a good safety profile due to its high selectivity towards H4 receptor.
Headquartered in Denmark, LEO Pharma was founded in 1908 and owned by the LEO Foundation. The healthcare company has devoted decades of research and development to delivering products and solutions to people with skin conditions.
JW Pharmaceutical Corporation was founded in 1945 and has been leading Korean medicine and medical supplies market. The company focuses on the field of research and development of anti-cancer drug and etc.; manufacture and sales of hospital fluid, antibiotic and other ethical pharmaceuticals.