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LG Life Sciences, Ltd. (“LGLS”) today announced that it agreed with Takeda Pharmaceutical Company Limited (“Takeda”) to enter preclinical studies of their anti-obesity drug candidate. An exclusive global licensing and research collaboration agreement to discover, develop and commercialize anti-obesity drugs was inked in March 2007. The candidate compound was designed by LGLS and has been successfully optimized by both parties as animal studies have shown promising advantages as a new anti-obesity agent.
This collaboration is based on LG Life Science’s obesity program, and both companies have been contributing scientific expertise in this research collaboration. LGLS deploys its capabilities in drug discovery including medicinal chemistry research and pharmacological evaluation, while Takeda is responsible for conducting subsequent research, development and commercialization.
Under the terms of the agreement, Takeda will be granted an exclusive right to the compounds to be selected by Takeda for worldwide market except Korea and Vietnam, and a semi-exclusive right for India. LGLS has received an upfront payment and research funding. Agreement includes milestone payments for progress of research - including entering preclinical trials - development and commercialization, exceeding US$100 million in total, and also royalty payments on product sales once the compounds from the collaboration are commercialized. Other financial terms are not disclosed.
“Working with Takeda on this collaboration since March 2007 has been a fruitful one, as we both learn from others strengths. We believe the synergy between Takeda’s expertise in drug evaluation and development, and LGLS’ strong capabilities in drug discovery has resulted in this milestone event,” said In-Chull Kim, President and CEO of LG Life Sciences.
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