MALVERN, PA — Ocugen, Inc. (NASDAQ: OCGN) has signed an exclusive licensing agreement with South Korea’s Kwangdong Pharmaceutical Co., Ltd. for the rights to commercialize OCU400, its experimental modifier gene therapy for retinitis pigmentosa (RP), in the Korean market.
Under the agreement, Ocugen will receive up to $7.5 million in upfront license fees and near-term milestones. The deal also includes sales-based payments of $1.5 million for every $15 million in sales, with revenues projected to exceed $180 million in the first decade of commercialization. Ocugen will additionally earn a 25% royalty on net sales, while retaining responsibility for manufacturing commercial supply.
An estimated 7,000 people in South Korea live with RP, a rare inherited disease that causes progressive vision loss and currently has no cure. OCU400, positioned as a potential one-time treatment, is in Phase 3 development with Ocugen targeting a U.S. Biologics License Application filing in 2026. Kwangdong plans to use Ocugen’s clinical and regulatory data to pursue approval in Korea.
“This partnership with Kwangdong is our first regional collaboration and represents an important step toward making OCU400 available to patients globally,” said Dr. Shankar Musunuri, Chairman, CEO, and Co-founder of Ocugen.
Kwangdong, one of Korea’s largest pharmaceutical companies, views the deal as an opportunity to expand its ophthalmology portfolio. “This agreement allows us to provide a transformative option to Korean patients suffering from RP,” said SungWon Choi, CEO and Chairman of Kwangdong.
The agreement marks a significant milestone for Ocugen’s international strategy, while positioning Kwangdong to become a leader in ophthalmic gene therapy within Korea.
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