SK Biopharma and Full-Life Sign US$571.5 Million Deal for Innovative Radiopharmaceutical FL-091

On July 17, SK Biopharmaceuticals Co., Ltd. announced its joint license agreement worth US$571.5 million with Full-Life Technologies Limited (Full-Life).The agreement grants SK Bio exclusive worldwide rights for clinical research, manufacturing, development, and commercialization of Full-Life’s radiopharmaceutical compound, FL-091, a novel agent targeting neurotensin receptor 1 (NTSR1)-positive cancers.

FL-091 Targeting Solid Tumors Overexpressing the NTSR1 Receptor for Enhanced Anti-Cancer Therapy

Full-Life’s compound, FL-091, is a small-molecule radioligand designed to target NTSR1-positive solid tumors. Specific cancer tumors overexpress the NTSR1 receptor protein, linking them to the progression of several cancers, including breast and pancreatic cancer. In preclinical studies, FL-091 radioligands demonstrated promising biodistribution profiles, improved binding affinity to NTSR1, and effective anti-tumor activity. 

Under the terms of the agreement, SK Biopharmaceuticals will acquire the NTSR1-targeting Radionuclide Drug Conjugate (RDC) program FL-091, as well as its backup compounds. The company aims to develop and commercialize these compounds as innovative anti-cancer treatments. Additionally, SK Biopharma will secure a right of first negotiation for other selected RDC programs from Full-Life. CEO of Full-Life, Lanny Sun, stated, “This agreement with SK Biopharmaceuticals highlights the potential of FL-091 in advancing cancer treatment and demonstrates SK Biopharmaceuticals’ unwavering commitment to building an oncology business around medical innovation. ”

License Agreement Will Push SK Biopharmaceutical Towards Global Biotech Leadership

SK Biopharmaceuticals and Full-Life agreed on a licensing deal valued at US$571.5 million. This deal includes upfront payments and development and commercial milestones, supporting SK Biopharmaceuticals’ ambition to become a global “Big Biotech.” Furthermore, the agreement will secure global rights for SK Biopharma to advance FL-091. They aim to expand beyond central nervous system (CNS) treatments and into oncology using emerging modalities, including radiopharmaceutical therapy (RPT) and targeted protein degradation (TPD). 

With this action plan, SK Biopharmaceuticals will proceed with its strategy to make substantial investments aimed at achieving leadership in Asia‘s radiopharmaceutical sector. Chief Executive Officer of SK Biopharmaceuticals, Mr. Donghoon Lee, expressed, “The licensing agreement with Full-Life not only brings the two companies closer together for future collaborations in the fastest-rising biotech sector, but also, most importantly, pushes SK Biopharmaceuticals forward to become a ‘Big Biotech.’ The company is excited about moving forward with its radiopharmaceutical plans to bring new treatments to people around the world. As stated by Mr. Lee, “Since the introduction of the company’s strategy roadmap to venture into radiopharmaceuticals last year, we have been on track toward our envisioned goal. We expect to further unveil and implement business plans for RPT this year, and actively pursue clinical development and commercialization in the near future to provide treatment options and create new value worldwide.”

Full-Life and SK Biopharma Leading Innovations in Radiotherapeutics, CNS Disorders, and Oncology

SK Biopharmaceutical is recognized for the research, development, and commercialization of therapies for CNS disorders and oncology. The company holds the distinction of being the first Korean company to independently develop and commercialize the anti-seizure medication cenobamate in the U.S. The drug is now available in different regions, including North America, Europe, Asia, Central and South America, North Africa, and the Middle East.

Full-Life Technologies is a global radiotherapeutics company based in Belgium, Germany, and China. They aim to control the value chain of radiopharmaceutical research, development, production, and commercialization to lead innovative research that will shape the future of medical treatments. 

This agreement will profoundly impact the radiopharmaceutical sector in Asia. SK Biopharma’s strategic move will enhance their oncology portfolio and position them as possible leaders in innovative cancer treatments within the region. Moreover, this partnership will provide new hope for patients battling with NTSR1-positive cancers.

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Denisse Sandoval