TAIPEI, Nov 22, 2022- Golden Biotechnology Corp. (TPEX 4132) (“GoldenBiotech”, GBC), an advanced biopharmaceutical drug development company, announces that it has signed the “Definitive Licensing Agreement” with BNC Korea Co., Ltd(KOSDAQ 256840) for the development of Antroquinonol in COVID-19. The Agreement covers the commercial rights to the territories for South Korea, Brazil, Turkey and Indonesia.
BNC Korea Co., Ltd is a leading biopharmaceutical company focused on the development and commercialization of promising chemicals and biologicals in the therapeutic area.
The Commercialization Term will cover a period of 10 years with options for another 10 years extension. The Agreement confers to BNC Korea certain exclusive rights to market and promote Antroquinonol (HOCENA®) for the treatment of COVID-19 when the new drug is approved in the licensed territories. Under the terms of the agreement, BNC Korea is responsible for the commercialization of Antroquinonol (HOCENA®) in the licensed territories and has the exclusive right to marketing, sales and distribution of the drug in the licensed territories.
This Definitive Licensing Agreement for the development and licensing of Antroquinonol for COVID-19 completes the initial Licensing Agreement previously signed on January 4, 2021 between the two companies. The Definitive Agreement set that the licensed indication is limited to the treatment of COVID-19.
Golden Biotech will receive Milestone Payments totaling US$15 million, inclusive of an upfront milestone of US$ 4 million which Golden Biotech had received on January 8 and February 26, 2021. A further US$ 11 million is for the execution of a Phase 3 clinical trial and new drug approval (NDA) by the FDA for COVID-19.
When Antroquinonol (HOCENA®) is commercially available in the assigned territories, GBC will sell the final product to BNC Korea as well as receive royalty from BNC Korea for the sales to the market. Upon fulfillment of commercial and manufacturing conditions, and completion of a Manufacturing Agreement between both parties, GBC will appoint BNC Korea to manufacture Antroquinonol (HOCENA®) finished product only in its facilities in South Korea and to be commercially available only for the assigned territories.
Antroquinonol, a novel small molecule that was discovered in 2006 by Golden Biotechnology Corp. Antroquinonol has completed a number of pre-clinical and clinical studies in diseases with high unmet medical needs. Antroquinonol has consistently demonstrated strong clinical efficacy with high levels of safety for our patients. Golden Biotechnology Corp looks forward to completing the necessary clinical and regulatory milestones to enable Antroquinonol to be available for Healthcare Professionals and Patients.