This is a continuation of the 10 billion-won ($8.61 million) contract inked between the two in June 2018. For an additional 6.3 billion won, BioLogics will produce the drug substance for Ichnos’ atopic dermatitis treatment pipeline ISB 830 for clinical phase 3 trials and potentially manufacture for the global commercial supply upon regulatory approval.
|Plant 2 (Samsung BioLogics)|
In the case of successful product development estimated to take place in the first half of 2020, Samsung BioLogics will receive 71.5 billion won as a guaranteed minimum royalty.
According to British data analysis and consulting firm Global Data, the market for atopic dermatitis in seven major markets -- the US, France, Germany, Italy, Spain, the UK and Japan -- is increasing at a rapid pace of 11 percent a year. By 2027, the market is expected to grow to approximately 20 trillion won.
CEO Alessandro Riva of Ichnos Sciences and CEO Kim Tae-han of Samsung BioLogics expressed delight at their extended partnership for tackling the global atopic dermatitis market.
“We look forward to a mutually beneficial collaboration as we continue developing ISB 830 for autoimmune diseases, including atopic dermatitis,” said Riva.
Kim responded, “We are extremely proud to advance our ongoing relationship with Ichnos and truly appreciate the trust they have placed in Samsung Biologics to ensure delivery of high quality drug supply.”
Ichnos Sciences is based in the US state of New Jersey. It has five first-in-class pipelines which are for treating HER2 positive cancers such as breast cancer, multiple myeloma, atopic dermatitis, osteoarthritis pain and neuropathic pain.
By Lim Jeong-yeo (firstname.lastname@example.org)