Dong Wha and Teijin Pharma., Ltd. signed Agreement for Novel Osteoporosis Treatment
Date : 2008-04-17
On April 1, Dong Wha announced that it has entered into a licensing agreement with Teijin Pharma Limited granting an exclusive right Dong Wha's novel drug DW-1350 for Japan and related back-up compounds.
DW-1350 is an orally available low-molecular weight compound having an osteoblast-activating activity, and is expected to reduce the risk of bone fracture of osteoporosis patients, by enhancing bone formation and consequently increasing bone density. DW-1350 also has a suppressing activity on osteoclast function, which is the major mechanism of action of the currently available bisphosphonate drugs. These bifunctional actions characterize DW-1350 as a promising novel anti-osteoporosis drug.
Teijin Pharma is going to start the development of DW-1350 in Japan as the sole responsible party. Teijin Pharma currently has two anti-osteoporosis products, Onealfa® and Bonalon® in its lineup, and is conducting the clinical development of an analogue of parathyroid hormone-related protein (PTHrP), ITM-058. Teijin Pharma hopes that the addition of DW-1350 to its pipeline will enable Teijin Pharma to provide osteoporosis patients with more improved treatment options.
Teijin Pharma will have exclusive rights to develop and market DW-1350 and its back-up compounds in the same family for the treatment of any indications including osteoporosis in Japan. Dong Wha will supply to Teijin Pharma finished products, and will receive an upfront fee, development and commercial milestone payments, royalties on product sales, in consideration of the licenses. Total payments, excluding royalties, for successful development and commercialization of the program could reach up to $97 million USD if all options are exercised.
Dong Wha has already licensed the DW-1350 to Procter & Gamble Pharmaceutical, Inc. as of July 2, 2007, granting P&GP exclusive worldwide rights except for Japan and some Asian countries. P&GP is now developing the Program outside Japan under the license agreement with Dong Wha, as a new anti-osteoporosis treatment.
DW-1350 is an orally available low-molecular weight compound having an osteoblast-activating activity, and is expected to reduce the risk of bone fracture of osteoporosis patients, by enhancing bone formation and consequently increasing bone density. DW-1350 also has a suppressing activity on osteoclast function, which is the major mechanism of action of the currently available bisphosphonate drugs. These bifunctional actions characterize DW-1350 as a promising novel anti-osteoporosis drug.
Teijin Pharma is going to start the development of DW-1350 in Japan as the sole responsible party. Teijin Pharma currently has two anti-osteoporosis products, Onealfa® and Bonalon® in its lineup, and is conducting the clinical development of an analogue of parathyroid hormone-related protein (PTHrP), ITM-058. Teijin Pharma hopes that the addition of DW-1350 to its pipeline will enable Teijin Pharma to provide osteoporosis patients with more improved treatment options.
Teijin Pharma will have exclusive rights to develop and market DW-1350 and its back-up compounds in the same family for the treatment of any indications including osteoporosis in Japan. Dong Wha will supply to Teijin Pharma finished products, and will receive an upfront fee, development and commercial milestone payments, royalties on product sales, in consideration of the licenses. Total payments, excluding royalties, for successful development and commercialization of the program could reach up to $97 million USD if all options are exercised.
Dong Wha has already licensed the DW-1350 to Procter & Gamble Pharmaceutical, Inc. as of July 2, 2007, granting P&GP exclusive worldwide rights except for Japan and some Asian countries. P&GP is now developing the Program outside Japan under the license agreement with Dong Wha, as a new anti-osteoporosis treatment.