Bridge Biotherapeutics and Cellion Biomed Sign Option Agreement for Fibrotic Disease New Drug Candidate Introduction

Bridge Biotherapeutics.

[Asia Economy Reporter Lee Gwan-joo] Bridge Biotherapeutics announced on the 8th that it has signed an option contract to secure priority rights for preliminary research related to new candidate substances for the development of treatments targeting fibrotic diseases, including idiopathic pulmonary fibrosis (IPF), with Cellion Biomed.

Through this contract, Bridge Biotherapeutics introduced ‘BBT-301,’ an ion channel modulator that selectively regulates the activity of specific ion channels present on the cell membrane, demonstrating an innovative approach that inhibits fibrosis in cells and tissues.

The company aims to complete preclinical development and submit an Investigational New Drug (IND) application in the United States within this year after conducting additional mechanism and efficacy studies on BBT-301 during the priority (option) period. Furthermore, it plans to accelerate the discovery of additional indications where BBT-301 shows effective therapeutic efficacy among various fibrotic and other diseases.

According to the contract, Bridge Biotherapeutics will pay Cellion Biomed 500 million KRW for securing the option, as well as milestone payments at each clinical and approval stage. The total contract value is up to approximately 29 billion KRW, and upon commercialization, royalties based on net sales will be paid.

Lee Jung-kyu, CEO of Bridge Biotherapeutics, stated, “Based on our experience in developing new drugs for idiopathic pulmonary fibrosis, we plan to continuously discover and develop new treatments that demonstrate high safety and efficacy across a wide range of fibrotic diseases. Starting with BBT-877, we will strategically focus on the fibrotic disease field, including idiopathic pulmonary fibrosis, which has a significant unmet global medical need, to further enhance our new drug pipeline and strive diligently to showcase innovative drug development achievements through close collaboration.”

Kim Sung-jin, CEO of Cellion Biomed, said, “We are honored to enter into a technology transfer option contract with Bridge Biotherapeutics, which has global innovative new drug development capabilities and achievements, and to collaborate on discovering new indications. Based on domestic biotech collaboration, we will continue to provide active support and cooperation as the original discoverer to create remarkable cases of innovative new drug development.”

Meanwhile, Bridge Biotherapeutics will ultimately decide whether to exercise the option based on the results of preliminary research conducted during the option holding period, and if exercised, will acquire exclusive worldwide rights to BBT-301.

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