KPM Tech-Telcon RF Pharmaceutical Signs Domestic and Philippine Licensing Agreement with Humanigen for COVID-19 Treatment

[Asia Economy Reporter Jang Hyowon] KPM Tech and Telcon RF Pharmaceutical have secured domestic and Philippine licenses for a novel coronavirus disease (COVID-19) treatment.

KPM Tech and Telcon RF Pharmaceutical announced on the 3rd that they signed a contract to acquire development and commercial rights for Lenzilumab from Humanigen. The licensed regions cover South Korea and the Philippines.

The total license fee amounts to 20 million USD, with KPM Tech and Telcon RF Pharmaceutical each bearing half. The signing fee is 6 million USD. The first installment of 6 million USD will be paid upon the announcement of successful Phase 3 clinical trials in the U.S. stock exchange, and the second installment of 8 million USD will be paid upon Emergency Use Authorization (EUA) or New Drug Application (NDA) approval in the U.S., as part of the milestone contract.

Both companies have also established safeguards to minimize financial risks that may arise from clinical trial failures. Evercore Investment, a related party, signed a contract to provide collateral worth a total of 7 billion KRW, with 3.5 billion KRW each to KPM Tech and Telcon RF Pharmaceutical until the success of the Phase 3 clinical trial.

Humanigen is a cell and gene therapy development company located in California, USA. Its COVID-19 treatment using the pipeline drug Lenzilumab has been recognized for its competitiveness and is currently undergoing the ‘ACTIV-5 Big Effect Trial (ACTIV-5/BET)’ sponsored by the U.S. National Institutes of Health (NIH). Additionally, Phase 3 clinical trials are being conducted in Brazil following the same U.S. clinical protocol.

With this contract, KPM Tech and Telcon RF Pharmaceutical have secured the rights to the COVID-19 treatment following a successful equity investment. After their investment, Humanigen was listed and is currently traded on the NASDAQ market in the U.S.

As of the 3rd, the cumulative number of COVID-19 patients in South Korea exceeded 26,000, while the Philippines approached 385,000. The Philippines is experiencing over 2,000 new confirmed cases daily.

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