Dong-A ST and Beactica Therapeutics Mutually Agree to Conclude Oncology Collaboration
Dong-A ST Co., Ltd. (170900: Korea SE), a Korean pharmaceutical company, and Beactica Therapeutics AB, a Swedish precision oncology company, today announced that they have mutually agreed to terminate their collaboration and licensing agreement. The collaboration focused on developing novel candidate compounds against multiple cancer targets of mutual interest. The partnership has been productive, and multiple compound classes are now in various stages of lead generation and optimization.
As part of the termination, both Dong-A ST and Beactica Therapeutics will gain exclusive global rights for further development and commercialization for different compounds series developed during the collaboration. No obligations to pay milestone payments or royalties will remain for the assets divided between Dong-A and Beactica. For a limited time, each company is entitled to a revenue share from any related future outlicensing activities by the other party. Full financial details remain undisclosed.
“We appreciate the opportunity we have had to collaborate with Beactica Therapeutics over the past five years. Our combined efforts have led to important breakthroughs,” said Dr Jae-Hong Park, President and CSO of Dong-A ST. “We will continue to share with Beactica the ambition to make a clinical impact where it is urgently needed.”
“We have valued the partnership with Dong-A and are pleased by what we have achieved together. Gaining exclusive global rights to certain compounds is perfectly aligned with Beactica’s ambition to itself become a clinical-stage precision oncology company,” said Dr Per Källblad, CEO of Beactica Therapeutics. “We are excited to now add these assets to our pipeline as wholly-owned programmes.”
The collaboration between Dong-A ST and Beactica Therapeutics was initiated in October 2016 and expanded in December 2018. In December 2019, a key milestone was achieved.