18 March 2020 | News
RIBOMIC will receive an upfront payment of US$1 million
Image credit- shuttershock.com
Japan based RIBOMIC Inc., a clinical stage pharmaceutical company specializing in aptamer therapeutics has signed the license agreement with AJU PHARM CO., LTD., Korean pharmaceutical company, for RBM-007 for the indication of the exudative age-related macular degeneration (AMD) in the territory of Korea and Southeast Asia (Singapore, Philippines, Thailand, Vietnam, Indonesia, Malaysia, Cambodia and Myanmar).
Upon execution of this Agreement, AJU will obtain the exclusive license to develop and sell the Product containing RBM-007 in the mentioned Territory.
RIBOMIC will receive an upfront payment of US$1 million and is eligible for potential development milestone payments of up to US$5 million.
In addition, RIBOMIC will supply the Product to AJU at product supply prices, which includes royalties, for AJU’s sale of the Product in the Territory.
RBM-007 is currently being evaluated in a Phase 2 study in patients with exudative age-related macular degeneration.