TG Enters mAb Therapeutic Agreement for South Korea, SE Asia
TG Therapeutics entered into an exclusive licensing agreement with Ildong Pharmaceutical Co., for the development and commercialization of the company's anti-CD20 antibody, Ublituximab (TGTX-1101) in South Korea and Southeast Asia. Based in Seoul, Korea, Ildong is a Korean company focused on the development, manufacturing, and marketing of pharmaceuticals and OTC products.
TG Therapeutics will receive an upfront payment of $2 million in addition to sales-based milestone and royalty payments in exchange for exclusive rights to develop and commercialize Ublituximab for all therapeutic indications in the territory.
Ublituximab is a third-generation chimeric monoclonal antibody targeting an epitope on the CD20 antigen found on B lymphocytes. The compound has reportedly been bioengineered for enhanced biological activity with an increased ability to trigger an immune response, delivering ADCC effects to aid in B-cell depletion. Ublituximab is under development for hematologic malignancies and other B-cell lymphoproliferative disorders, and is currently being evaluated in a North American Phase I/II clinical trial in patients with relapsed or refractory non-Hodgkin's lymphoma. The compound has been granted orphan status in Europe and in the U.S. for B-cell chronic lymphocytic leukemia.
"We are delighted to have added Ublituximab to our pipeline in biologics and it is a strategic fit for Ildong," said Jung-Chi Lee, chairman & CEO of Ildong. "We believe Ublituximab . . . will strengthen our presence in oncology and autoimmune areas and look forward to working with TG Therapeutics in developing Ublituximab in South Korea and Southeast Asia."