Kolon Life Science exports 'TG-C' technology to Singaporean company... Total value of 723.4 billion KRW

by Lee Gwanju

Published 13 Apr.2022 08:35(KST)

Kolon Life Science exports 'TG-C' technology to Singaporean company... Total value of 723.4 billion KRW

[Asia Economy Reporter Lee Gwanju] Kolon Life Science announced on the 13th that it has signed a technology export contract for the osteoarthritis cell and gene therapy TG-C (TissueGene-C, Invossa) with Singapore's Juniper Biologics. The contract is worth a total of 723.4 billion KRW, including a non-refundable signing fee of 15 billion KRW and milestone payments of approximately 708.4 billion KRW based on sales stages.

Juniper Biologics will hold exclusive rights for research, development, and commercialization related to TG-C in Asian regions including Japan (excluding Korea and Greater China), as well as the Middle East and Africa, with a contract period of 20 years for each country. Kolon Life Science will support the development and commercialization of TG-C and be responsible for supplying the product.

TG-C is currently being administered in the US Phase 3 clinical trial by Kolon TissueGene, which resumed patient dosing in December last year and is progressing smoothly. The US clinical trial for TG-C in patients with hip osteoarthritis was approved by the FDA to proceed directly to Phase 2 without Phase 1, enabling the possibility of expanding new indications.

Lee Woo-seok, CEO of Kolon Life Science, said, “If the resumption of the US Phase 3 clinical trial of TG-C was an opportunity to alleviate safety concerns, this technology export will be an important milestone recognizing TG-C’s technology and value in the global market. We will do our best to establish TG-C as a leader in the osteoarthritis treatment market by expanding the territory of rights wider than previous contracts.”