SK Biopharm Signs Technology Export Deal Worth 580 Billion KRW with Japan's Ono Pharmaceutical

[Asia Economy Reporter Seo So-jeong] SK Biopharm (CEO Cho Jung-woo) announced on the 13th that it has signed a technology export contract worth 580 billion KRW with Ono Pharmaceutical for the development and commercialization of the epilepsy drug cenobamate in Japan.

Cenobamate is an adult partial seizure treatment independently developed by SK Biopharm and approved last year by the U.S. Food and Drug Administration (FDA).

Under this contract, SK Biopharm will receive an upfront payment of 5 billion yen (approximately 54.5 billion KRW), milestone payments totaling 48.1 billion yen (approximately 524.3 billion KRW) upon approval and commercialization, as well as royalties amounting to double-digit percentages of sales.

SK Biopharm is currently conducting large-scale Phase 3 clinical trials of cenobamate in three Asian countries (Japan, China, and Korea). For the Japanese market, SK Biopharm will conduct the Phase 3 trials, and both companies plan to collaborate on future development and product approval.

Through this contract, SK Biopharm has also secured co-promotion option rights to jointly commercialize the product with Ono Pharmaceutical. Ono Pharmaceutical, headquartered in Osaka, Japan, is an R&D-focused pharmaceutical company concentrating on innovative drug development for diseases with high unmet medical needs such as oncology, immunology, and neurology.

SK Biopharm CEO Cho Jung-woo stated, “This contract will expand SK Biopharm’s presence into Japan, one of Asia’s largest pharmaceutical markets, and provide an unprecedented opportunity to realize social value for Japanese epilepsy patients through innovative drugs.”

Ono Pharmaceutical CEO Sagara Kyo said, “We believe cenobamate will become a new treatment option for Japanese patients suffering from epilepsy.”

This content was produced with the assistance of AI translation services.