Total deal worth KRW 7 billion including upfront KRW 1 billion + milestones... Technology transfer of corneal damage treatment candidate 'RCI001U' domestic production and commercialization rights... Phase 1 clinical trial planned this year
RudaCure announced on the 16th that it has signed a license-out agreement worth KRW 7 billion with Hanlim Pharmaceutical for the corneal ulcer and corneal damage treatment candidate 'RCI001U.'
Under the agreement, RudaCure will receive a total of KRW 7 billion from Hanlim Pharmaceutical, including an upfront payment of KRW 1 billion plus milestones such as clinical approvals. Hanlim Pharmaceutical will hold domestic production and commercialization rights for RCI001U. RudaCure will receive double-digit royalties after commercialization.
Both companies plan to enter Phase 1 clinical trials for RCI001U within this year to expedite commercialization.
RCI001U is a pipeline derived from RCI001, RudaCure's existing dry eye disease treatment candidate, the Rac1 inhibitor currently in development. This follows RudaCure's technology transfer of the dry eye disease treatment candidate RCI001 to Hanlim Pharmaceutical in 2021, with this deal covering an additional indication.
According to RudaCure, given that treatment drugs for corneal damage are currently limited domestically, the technology transfer of RCI001U is being made after completing third-party confirmatory efficacy testing and non-clinical toxicology studies.
A RudaCure representative stated, "Through this additional indication technology transfer agreement, we have strengthened our network with Hanlim Pharmaceutical," adding, "We expect continuous collaboration to develop not only dry eye disease and corneal damage treatments, but also various ophthalmic treatments including ocular implants for macular degeneration."
