Gilead Sciences & Yuhan Corp. Announce Collaboration & License Agreement to Develop Novel Investigational Treatments for Adva...
January 06 2019 - 5:30PM
Business Wire
Gilead Sciences, Inc. (NASDAQ: GILD) and Yuhan Corporation
(000100.KS; Yuhan) today announced that the companies have entered
into a licensing and collaboration agreement to co-develop novel
therapeutic candidates for the treatment of patients with advanced
fibrosis due to nonalcoholic steatohepatitis (NASH).
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the full release here:
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Under the agreement, Gilead will acquire global rights to
develop and commercialize novel small molecules against two
undisclosed targets in all countries, with the exception of the
Republic of Korea where Yuhan will retain certain commercialization
rights. Yuhan and Gilead will jointly conduct preclinical research,
and Gilead will be responsible for global clinical development.
Gilead will also be responsible for commercialization worldwide,
outside of Yuhan’s rights in the Republic of Korea. In connection
with this agreement, Yuhan will receive an upfront payment of $15
million and is eligible to receive up to an additional $770 million
in potential milestone payments upon achievement of certain
development and commercial milestones, as well as royalties on
future net sales. This agreement builds on the companies’ existing
commercial collaboration to support the promotion of Gilead’s
medicines in the Republic of Korea.
NASH is a chronic and progressive liver disease characterized by
fat accumulation and inflammation in the liver, which can lead to
scarring, or fibrosis, that impairs liver function. Individuals
with advanced fibrosis due to NASH, defined as bridging fibrosis
(F3) or cirrhosis (F4), may face serious consequences, including
end-stage liver disease, liver cancer and the need for liver
transplantation, and are at a significantly higher risk of
liver-related mortality. Currently, patients living with NASH have
limited treatment options.
“This collaboration builds on our long-term partnership with
Yuhan, with a new focus on the investigation of novel approaches to
treat patients with advanced fibrosis due to NASH that complement
our ongoing research programs,” said John McHutchison, MD, AO,
Chief Scientific Officer and Head of Research and Development,
Gilead Sciences. “We look forward to working with the Yuhan team to
advance our work in this area where there is a significant unmet
need for patients.”
“I am very pleased by this collaboration, which significantly
expands and deepens our longstanding, trusted partnership with
Gilead. We are confident that Gilead’s expertise in liver disease
will accelerate the development of our novel agents. As a company,
we are committed to investigating new therapeutics to improve the
lives of patients with NASH,” said Mr. Jung Hee Lee, President and
CEO of Yuhan.
About Yuhan Corporation
Yuhan Corporation is a South Korea-based healthcare company
founded in 1926. The company has positioned itself as one of the
top pharmaceutical companies in terms of market cap and sales
revenue in Korea. The core business consists of primary &
specialty care, dietary supplements, household & animal care,
and contract manufacturing of active pharmaceutical ingredients. It
has a number of subsidiaries and a global presence in the form of
joint ventures with the Clorox Company (USA) and Kimberly-Clark
Corporation (USA). Yuhan (000100:KS) is a publicly-listed company
traded on the Korea Stock Exchange.
About Gilead Sciences
Gilead Sciences, Inc. is a research-based biopharmaceutical
company that discovers, develops and commercializes innovative
medicines in areas of unmet medical need. The company strives to
transform and simplify care for people with life-threatening
illnesses around the world. Gilead has operations in more than 35
countries worldwide, with headquarters in Foster City,
California. For more information on Gilead Sciences, please visit
the company’s website at www.gilead.com.
Gilead Forward-Looking
Statement
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the risk that the parties may not realize the potential
benefits of this collaboration program and Gilead may fail to
develop and/or commercialize any product candidates from the
collaboration program. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These risks, uncertainties and other factors could
cause actual results to differ materially from those referred to in
the forward-looking statements. The reader is cautioned not to rely
on these forward-looking statements. These and other risks are
described in detail in Gilead’s Quarterly Report on Form 10-Q for
the quarter ended September 30, 2018, as filed with the U.S.
Securities and Exchange Commission. All forward-looking statements
are based on information currently available to Gilead, and Gilead
assumes no obligation to update any such forward-looking
statements.
For more information on Gilead Sciences, please
visit the company’s website at www.gilead.com, follow Gilead on
Twitter (@GileadSciences) or call Gilead Public Affairs at
1-800-GILEAD-5 or 1-650-574-3000.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190106005116/en/
Gilead ContactsInvestors:Sung Lee+1
650-524-7792
Media:Arran Attridge+1 650-425-8975
Yuhan ContactsInvestors:Jaehong
Park+82 2-828-0265
Media:Jongwon Kim+82 2-828-0036
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