RudaCure Inc. signs joint research agreement with Hanlim Pharmaceutical for dry eye disease treatment (RCI001)
Emerging bio-venture company RudaCure Inc. (CEO Yongho Kim) has signed a joint research and development and investment agreement with Hanlim Pharmaceutical Co., Ltd. (CEO Jaeyoon Kim, Jeongjin Kim), a leading pharmaceutical company in ophthalmic drugs, for the dry eye disease treatment RCI001.
RCI001, the contracted technology, is a drug that exerts powerful anti-inflammatory and antioxidant effects through a mechanism that suppresses inflammatory activation, thereby alleviating dry eye disease. Hanlim Pharmaceutical highly evaluated the commercialization potential of RCI001 based on its faster tear secretion, corneal damage recovery capability, and superior instillation compliance and safety compared to commercially available competing drugs, and decided to pursue joint R&D and invest in RudaCure.
The total contract value is KRW 15 billion, comprising a fixed licensing fee, separate milestone-based royalties, and investment funds. Hanlim Pharmaceutical will be responsible for process development, GMP production, and supply of RCI001, and will secure domestic sales rights and a certain equity stake in RudaCure. RudaCure will focus on R&D including domestic and international clinical trials, as well as overseas licensing.