Korean biotech’s deal with global health care giant includes $80m upfront payment
Korean biopharmaceutical company Adel announced Monday that it has secured a license-out agreement worth up to $1.04 billion with multinational health care firm Sanofi for the development and commercialization of Adel-Y01, a potential therapy for Alzheimer’s disease.
Under the deal, Adel will receive a $80 million upfront payment and will receive additional payments depending on whether its therapy candidate hits specific development stages and commercial milestones. Adel will also receive royalties, reaching up to double-digit percentages, based on net sales of the neurodegenerative disease therapy.
"This strategic partnership with Sanofi, a global leader in health care, underscores Adel’s technological strength and highlights the therapeutic promise of Adel-Y01," said Yoon Seung-yong, CEO of Adel.
"By combining our scientific expertise with the proven development and commercialization capabilities of Sanofi, we hope to accelerate the delivery of this disease-modifying therapy to people living with Alzheimer's around the world."
According to the Korean biopharmaceutical company, Adel-Y01 is a humanized monoclonal antibody that selectively targets tau protein acetylated at Lysine-280. Adel noted that, unlike therapies targeting total tau, Adel-Y01 specifically inhibits the aggregation and propagation of toxic tau species — a key driver of Alzheimer's pathology — while preserving the function of normal microtubule-associated tau.
Adel led the discovery and preclinical development of Adel-Y01, using its proprietary neural disease research and development platform. The company has been co-developing the asset through a joint research and development agreement with Oscotec, a Kosdaq-listed pharmaceutical company.
Adel-Y01 is currently undergoing a global Phase 1 clinical trial under the investigational new drug application approved by the United States Food and Drug Administration.
“Adel's innovative approach to targeting tau acetylation offers a promising and differentiated mechanism for addressing the underlying causes of Alzheimer's disease,” said Erik Wallstroem, global head of multiple sclerosis, neurology and gene therapy development at Sanofi.
“We look forward to advancing Adel-Y01 through clinical development to provide new hope for patients living with this devastating condition.”
hwkan@heraldcorp.com
