NEW YORK – Full-Life Technologies and SK Biopharmaceuticals said Wednesday that they have inked a $571.5 million licensing deal focused on further developing Full-Life's radiopharmaceutical FL-091.
Under the terms of the agreement, SK Biopharmaceuticals will pay Full-Life an upfront payment as well as development and commercial payments totaling $571.5 million. Full-Life is also eligible to receive royalty payments if FL-091 is commercially approved.
In the deal, Seoul-based SK Biopharmaceuticals will acquire exclusive global research, development, manufacturing, and commercialization rights to FL-091 as well as first-negotiation rights to other preselected radiopharmaceuticals in Full-Life's pipeline.
FL-091 is designed to bind to the NTSR1 receptor protein on solid tumors and deliver a targeted dose of radiation to NTSR1-expressing cancer cells. The approach has shown promise in preclinical studies, according to Heidelberg, Germany-based Full-Life, and the firm is in the process of developing a therapeutic that links FL-091 to the alpha-emitting isotope, actinium-225.
The cancer types with NTSR1 overexpression include colorectal, prostate, and pancreatic cancer.
Beyond licensing FL-091, SK plans to share further radiopharmaceutical business plans later this year, SK CEO and President Donghoon Lee said in a statement.