MALVERN, PA — Ocugen, Inc. (NASDAQ: OCGN) has signed an exclusive licensing agreement with South Korea’s Kwangdong Pharmaceutical Co., Ltd. for the rights to develop and commercialize OCU400, Ocugen’s experimental gene therapy for retinitis pigmentosa (RP), in the Korean market.
The deal brings Ocugen up to $7.5 million in upfront and near-term milestone payments, with potential sales milestones exceeding $180 million in the first decade of commercialization. Ocugen will also receive a 25% royalty on net sales and will manufacture the commercial supply of OCU400.
Retinitis pigmentosa is a rare inherited eye disorder that leads to progressive vision loss. Approximately 7,000 people in South Korea are estimated to be affected—about 7% of the U.S. patient population. If approved, OCU400 could offer a one-time, potentially lifelong treatment option.
“We are excited to partner with Kwangdong as our first regional partner in the development and commercialization of our modifier gene therapies across the globe,” said Dr. Shankar Musunuri, Ocugen’s chairman, CEO, and co-founder. “OCU400 is a potential one-time therapy for life to treat RP and upon local regulatory approval, patients in Korea with this devastating condition will be able to access OCU400 through Kwangdong.”
Kwangdong, one of Korea’s five largest pharmaceutical companies, will lead the regulatory approval process using Ocugen’s Phase 3 clinical data and anticipated U.S. Biologics License Application filing in 2026.
“Kwangdong is very excited to have the opportunity to provide a new treatment option to Korean patients suffering from RP,” said SungWon Choi, CEO and chairman of Kwangdong. “This deal allows us to further strengthen our ophthalmology portfolio, alongside our existing pipeline for presbyopia and pediatric myopia.”
The agreement marks a significant step in Ocugen’s strategy to globalize its gene therapy platform, with Kwangdong positioned to become a leader in ophthalmic gene therapy in Korea.
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