logo-loader
viewHumanigen, Inc.

Humanigen inks licensing deal for coronavirus drug lenzilumab in South Korea and the Philippines

The deal is worth as much as $20 million, including $6 million in an upfront payment when the agreement is executed

Hospital ventilator
Telcon produces liquid formulations, tablets, pills, capsules and other pharmaceutical products

Humanigen Inc (NASDAQ:HGEN) (FRA:0KB2) announced Tuesday that it has signed a licensing agreement with Telcon RF Pharmaceutical Inc and KPM Tech Co Ltd for the development and commercialization rights to its drug lenzilumab as a coronavirus (COVID-19) treatment in South Korea and the Philippines. 

The deal is worth as much as $20 million, including $6 million in an upfront payment when the agreement is executed and $14 million in two payments when certain achievement milestones are met by Humanigen in the US. 

Telcon and KPM Tech will be responsible for gaining regulatory approval and subsequent commercialization of lenzilumab in its territories, and Humanigen will earn double-digit royalties following such approval on net sales after commercialization. 

READ: Humanigen says MedStar Washington Hospital Center in Washington, DC treats its first COVID-19 patient with lenzilumab

Telcon is an affiliate of KPM Tech, and both companies recently invested in Humanigen as part of the company’s June offering. Telcon produces liquid formulations, tablets, pills, capsules and other pharmaceutical products, as well as communication equipment, the company said.

“We have supported Humanigen through an equity investment and see lenzilumab as an excellent therapeutic solution for the hyper inflammation seen in COVID-19 hospitalized patients. Lenzilumab has a significant part to play in the treatment of patients in the pandemic and beyond,” Ji-Hoon Kim, CEO of Telcon and KPM Tech, said in a statement.  "We are honored to be selected to develop and potentially launch lenzilumab in South Korea and the Philippines.”

The deal was Humanigen’s first in the Asia-Pacific region. The number of coronavirus cases in South Korea and the Philippines is roughly 412,000, according to the New York Times.

“Telcon and KPM Tech invested in Humanigen with a view to increase involvement moving forward,” Humanigen’s head of the Asia-Pacific region Bob Atwill said. “This is the next step in our relationship and we are grateful for the support we have received. Humanigen’s expansion strategy in the Asia-Pacific region is well underway and this is the first of other anticipated licensing transactions for lenzilumab in COVID-19 hospitalised patients.”

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Humanigen, Inc.

Price: - -

OTCMKTS:HGEN
Market: OTCQB
Market Cap: -
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Humanigen, Inc. named herein, including the promotion by the Company of Humanigen, Inc. in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Humanigen announces 71.8 million dollars in financing

Humanigen (OTCQB: HGEN) Chairman and CEO Cameron Durant joined Steve Darling from Proactive Vancouver with news the company has secured almost 72 million dollars in financing. Durant discusses those making up that financing which is a big part of the story..

on 3/6/20

2 min read