MALVERN, PA — Ocugen, Inc. (NASDAQ: OCGN) has signed a binding term sheet with a prominent pharmaceutical and healthcare company in Korea, granting exclusive Korean rights to OCU400, its experimental gene therapy for retinitis pigmentosa (RP).
Under the prospective licensing agreement, Ocugen will receive up to $11 million in upfront payments and near-term development milestones. The deal also includes sales milestones of $1 million for every $15 million in Korean net sales, with projected sales milestones exceeding $150 million in the first decade of commercialization. Additionally, Ocugen will earn a 25% royalty on net sales and retain responsibility for manufacturing the therapy.
This strategic partnership underscores the urgent need for innovative RP treatments, with an estimated 15,000 individuals affected by the condition in Korea. OCU400, currently in Phase 3 clinical development, offers a promising therapeutic option to address this unmet medical need.
“This regional licensing agreement is aligned with our business development strategy to partner with well-established companies in their respective countries and regions,” said Dr. Shankar Musunuri, Chairman, CEO, and Co-founder of Ocugen. “A regional approach preserves Ocugen’s rights to larger geographies to maximize total patient reach while also generating return for our shareholders.”
The final agreement is expected to be signed within the next 60 days. Ocugen remains on track to file a Biologics License Application for OCU400 by mid-2026.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.