Seongnam, South Korea, March 24, 2024–(BUSINESS WIRE)–AriBio Co., Ltd. (AriBio) announced that it has signed exclusive marketing rights in China for AR1001, an investigational drug for early Alzheimer's disease, for up to US$770 million.
The terms of the agreement consist of a non-refundable upfront payment of KRW 120 billion (approximately USD 90 million), with a total amount including milestone payments, including additional royalties, of up to RMB 5.59 billion (approximately USD 770 million). million US dollars). The upfront payment is expected to be paid to him from mid-2024.
In response to the growing Alzheimer's disease population in China, prominent pharmaceutical companies have aimed to develop safe and effective oral treatments for Alzheimer's disease. To date, Alibio has entered into a 100 billion won partnership with Samjin Pharmaceuticals for exclusive marketing rights in South Korea. Now, this partnership has expanded to include China, with a cumulative total of 1.12 trillion won (approximately 840 million US dollars). Considering the market competition and sales strategy for Alzheimer's disease drugs in China, the licensee requested non-disclosure until an agreed time.
An international phase 3 clinical trial of AR1001 (Polaris-AD) in patients with early Alzheimer's disease is ongoing in the US, UK, and South Korea. Additionally, the clinical trial is awaiting regulatory approval in China and the European Union. The study will be conducted at 180 locations around the world. Initial patient enrollment will begin in the United States in December 2022, with active enrollment in other regions.
“This agreement demonstrates our unwavering commitment to developing meaningful treatments for Alzheimer's disease, and our partners have a strong commitment to developing meaningful treatments for Alzheimer's disease,” said Matthew (Jai Jun) Choung, CEO and Chairman of AriBio. We are also considering the AR1001 program as we continue to consult with other potential partners in Asian countries, the Middle East, South America, Europe and the United States. To go.”
About AR1001
AR1001 is a PDE5 inhibitor being developed as an investigational oral drug for the treatment of Alzheimer's disease. Preclinical studies have confirmed the neuroprotective effects of AR1001 by inhibiting neuronal apoptosis and restoring synaptic plasticity. AR1001 has also demonstrated strong reductions in hyperphosphorylated tau protein in preclinical models and phase 2 trials.
About AR1001-ADP3-US01
AR1001-ADP3-US01 (NCT05531526) is A Phase 3, double-blind, randomized, placebo-controlled, multicenter study evaluating the efficacy and safety of AR1001 over 52 weeks in participants with early Alzheimer's disease.. This study aims to evaluate the efficacy and safety of AR1001 in slowing the progression of Alzheimer's disease through various cognitive and functional assessments. More information about clinical trials can be found at ClinicalTrials.gov.
About Alibio
AriBio Co., Ltd. is a biopharmaceutical company based in South Korea with offices in both South Korea and the United States. The company focuses on developing new treatments for neurodegenerative diseases. The company continues to expand its partnerships to accelerate the development of meaningful treatment options for neurodegenerative diseases.
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