SK Biopharmaceuticals has signed a licensing and strategic equity investment agreement with 1ST Biotherapeutics to secure global exclusive development and commercialization rights for a novel Parkinson's disease treatment candidate. The agreement, announced on the 17th, includes a total potential value of up to approximately KRW 430.8 billion, alongside a separate KRW 3 billion strategic investment. The move strengthens SK Biopharmaceuticals' central nervous system pipeline and supports its open innovation strategy.
Agreement Value and Structure
The licensing agreement consists of an upfront payment of KRW 2.5 billion, research, development, and commercialization milestone payments of up to KRW 72.5 billion, and sales linked milestones up to USD 260 million, equivalent to about KRW 355.8 billion. SK Biopharmaceuticals will also pay tiered royalties on net sales after commercialization. The separate KRW 3 billion equity investment is intended to build a foundation for long term collaboration between the two companies.
First Open Innovation Center In-Licensing
This transaction marks the first candidate licensed through SK Biopharmaceuticals' Open Innovation Center, which was established to expand the company's central nervous system portfolio. The agreement gives SK Biopharmaceuticals access to a disease modifying therapy candidate that may intervene in the underlying progression of Parkinson's disease. Current treatments mostly relieve symptoms, leaving significant unmet medical demand for therapies that can slow or change disease progression.
Differentiated Dual Mechanism
Under the agreement, the candidate is an oral small molecule that simultaneously inhibits Type 2 LRRK2 and c-Abl, two targets linked to Parkinson's disease pathology. This dual inhibition approach is differentiated from existing mechanisms and has potential to become a first in class treatment. The candidate is designed to act on endolysosome dysfunction and alpha synuclein accumulation, which are recognized as important drivers of the disease.
Development Plans and Next Steps
1ST Biotherapeutics is leading research to select a preclinical candidate, while SK Biopharmaceuticals will review subsequent development based on research progress. SK Biopharmaceuticals may pursue investigational new drug enabling studies and evaluate clinical trial entry. The candidate's preclinical validation will be central to determining the optimal development and commercialization path.
East West Bridge Strategy
SK Biopharmaceuticals said the agreement begins the full implementation of its East West Bridge strategy, which connects promising candidates from Asia with global development and commercialization capabilities. The Open Innovation Center will lead the search and validation of early stage assets across the region. It will also continue to evaluate strategic investments to support an open innovation ecosystem in Asia.
Executive Comments
Jae-eun Kim, CEO of 1ST Biotherapeutics, said the collaboration is meaningful because it combines the company's early discovery capabilities with SK Biopharmaceuticals' global development and commercialization expertise. Dong-hoon Lee, CEO of SK Biopharmaceuticals, said the deal embodies the East West Bridge strategy and expands the central nervous system portfolio through open innovation. Both companies plan to work closely to advance the candidate toward successful development.
The licensing and investment agreement positions SK Biopharmaceuticals to advance a potentially disease modifying therapy for Parkinson's disease while strengthening its open innovation capabilities. By combining 1ST Biotherapeutics' early research with SK Biopharmaceuticals' clinical and commercial infrastructure, the companies aim to address a significant unmet medical need. The collaboration also reflects a broader effort to bring innovative Asian drug candidates to global markets.