Dong-A ST and Beactica Therapeutics achieve key milestone in their collaboration to develop new cancer treatments
Seoul, South Korea and Uppsala, Sweden – 4 December 2019
Dong-A ST Co., Ltd. (170900: Korea SE), a Korean pharmaceutical company, and Beactica Therapeutics AB, a Swedish drug discovery company, today announced that a lead compound meeting certain pre-defined criteria has been selected in their collaborative research programme aimed at developing first-in-class protein–protein interaction inhibitors for a target of therapeutic importance in cancer and other diseases.
The milestone transition provides Dong-A ST with exclusive global rights for further development and commercialization of products based on, or derived from, the lead compound. In return, Beactica receives an undisclosed milestone payment and is eligible to further payments for certain preclinical, clinical and regulatory milestones as well as royalties on commercial sales of the products resulting from the partnership. Beactica is also entitled to a revenue share from any related future licensing activities by Dong-A ST. Full financial details remain undisclosed.
“The collaboration between Dong-A and Beactica was initiated to develop next generation anti-cancer therapeutics and we greatly appreciate the phenomenal contribution Beactica has made in identifying novel modulators for a highly sought-after target,” said Dr Taeyoung Yoon, Senior Vice President and Head of Research of Dong-A ST. “We are committed to advance this innovative programme with the ultimate aim to make a clinical impact where it is urgently needed.”
“We are delighted to achieve this milestone under our collaboration with Dong-A, further validating the strength of our approach and drug discovery platform, as well as our success in collaborating globally with leading pharmaceutical companies,” said Dr Per Källblad, CEO of Beactica. “Dong-A’s commitment to advance this programme towards the clinic is encouraging.”
The collaboration between Dong-A ST and Beactica Therapeutics was initiated in October 2016 and expanded in December 2018.
About Dong-A ST
Dong-A ST Co., Ltd. specializes in the discovery, development, manufacture and markets pharmaceutical products and medical devices worldwide. The company offers various prescription drugs, including Stillen (Gastritis 2002); Zydena (Erectile dysfunction , 2005); Motilitone (Functional dyspepsia, 2011); Suganon (TZDM, 2016) as well as biologics and biosimilar products. Once-daily IV/oral Sivextro (Tedizolid, ABSSSI) was also developed by Dong-A ST which was approved by US FDA and launched in US (2014) and EU (2015) by global partners. Dong-A ST has a strong oncology R&D division with immuno-oncology and epigenetic pipeline. Dong-A ST Co., Ltd. was founded in 1932 and is headquartered in Seoul, South Korea. It is listed on the Korean stock exchange. For more information, visit www.donga-st.com.
About Beactica Therapeutics
Beactica Therapeutics AB is a specialist drug discovery company, utilising its proprietary methodologies to evaluate the interactions of molecules in order to generate novel therapeutics. As well as advancing its own pipeline of first-in-class small molecule allosteric modulators of disease-associated proteins, with a focus in oncology, Beactica offers partnerships using its proprietary drug discovery platform. Founded in 2006 based on research carried out at Uppsala University, Beactica has established a reputation as a world-leader in fragment-based drug discovery using SPR biosensor technology. For more information on Beactica Therapeutics, please visit www.beactica.com.