AmKor Enters Into Licensing Agreement With Hengdian For Neu2000

AmKor Pharma (AmKor) and Hengdian Group (Hengdian) have entered into a licensing agreement for further development and commercialisation of Neu2000 in China.

As per the terms of the agreement, Hengdian is expected to pay RMB 5m Yuan as a research fund for the study of acute myocardial infarction (AMI) and burns immediately after signing and additional RMB 5m Yuan as an upfront, after completion of the phase II clinical trial for stroke, AMI or burns in China.

In addition, Hengdian will provide 12% of the net sales as royalty to AmKor upon the commercial sale of the Neu2000 product in China. Moreover, Hengdian is responsible for producing API and drug products of Neu2000 for multinational clinical trials through AmKor and Neurotech.

Neu2000 is a moderate, NR2B-selective N-methyl-d-aspartate (NMDA) receptor antagonist and potent antioxidant, which is developed as a dual cytoprotective drug for stroke, spinal cord injury (SCI), AMI and burns by Neurotech Pharmaceuticals (Neurotech) in South Korea.

Neu2000 is an investigational stroke treatment with proven human safety through phase I clinical trial in Quintiles US. In the double-blinded, phase I clinical trial, Neu2000 showed positivesafety profiles up to 6g per healthy young humans (80 subjects) and up to 4g per normal elderly humans (15 subjects) without serious adverse events.

BJ Gwag, president and CEO of AmKor and Neurotech, said: “We are pleased to establish a partnership with Hengdian Group with sincere trust and belief in the relationship and are going to plan Phase II clinical trials of Neu2000 first in South Korea and China.”