TesoRx Subsidiary LIPAC Oncology and Huons Co. Announce Exclusive Licensing Agreement for TBC-1002 in Korea
(San Francisco, Calif. and Seoul, Korea) September 16, 2019 – TesoRx Pharma subsidiary LIPAC Oncology LLC and Huons Co., Ltd today announced that they have entered into an exclusive licensing agreement to develop, manufacture and commercialize TBC-1002 for all indications in Korea. Huons is making an upfront payment and future milestone payments to LIPAC based on specific development, regulatory and commercial milestones. Huons will also make double-digit royalty payments based on sales.
TBC-1002 is a proliposomal intravesical paclitaxel formulation (PLIP), currently in development for intravesical administration in the treatment of non-muscle invasive bladder cancer (NMIBC). NMIBC is a common and highly recurrent disease that can often be difficult to treat. If approved, TBC-1002 would be the first chemotherapeutic agent approved by the U.S. Food and Drug Administration for this indication in almost two decades. Additional indications covered by the agreement include upper tract urothelial carcinoma, stage II/III ovarian cancer and peritoneal carcinoma.
“We are excited to potentially bring TBC-1002 to patients living with bladder cancer in Korea,” said Michael Oefelein, M.D., Chief Medical Officer of LIPAC. “Having treated bladder cancer for more than 23 years, it is very clear that new treatment options and more effective delivery systems could help improve both clinical outcomes and quality of life.”
“This collaboration is the first of many we envisage under our global development strategy,” said Will Robberts, President of LIPAC. “We believe that regional partnerships with strong companies such as Huons are essential to navigate the local subtleties of commercialization in countries outside of the United States.”
The parties will form a Joint Development Committee to collaborate on the clinical development of TBC-1002 in Korea and other partnering opportunities.
“We look forward to collaborating closely with LIPAC given their deep experience with TBC-1002 and their proprietary proliposomal delivery platform,” said Keyan UM, President and CEO of Huons. “We believe patients in Korea will benefit from a chemotherapy that targets the site of their disease.”
About LIPAC Oncology LLC
LIPAC Oncology LLC is a pharmaceutical company utilizing a proprietary proliposomal delivery platform to enhance and reformulate proven cancer drugs into more effective treatments. The company was created in 2016 as a subsidiary of TesoRx Pharma LLC, a pharmaceutical company which has leveraged the platform technology to create therapeutic candidates for other indications. For more information, visit lipaconcology.com.
About Huons Co., Ltd
Huons Co., Ltd. is a pharmaceutical company based in South Korea that provides a wide variety of health and wellness solutions. The company is a leader in the development, manufacturing and distribution of pharmaceutical products and medical devices. Its product portfolio includes ethical drugs, over the counter products, nutritionals and medical devices. Huons offers its products in a wide range of formulations including capsules, tablets, vials, suspensions, syrups, injections and eye drops. In 2018 Huons was granted U.S. FDA approval of generic of lidocaine for local anesthetic injection. It markets its products in Latin America, the U.S., Asia, the Middle East, Africa and Europe. For more information, visit huons.com.