Stuart Therapeutics, Inc. announces licensing agreement with Aju Pharm Co. Ltd.
STUART, Fla., Jan. 3, 2023 /PRNewswire/ -- Stuart Therapeutics, Inc., (hereinafter Stuart) announces that it has entered into a license agreement with AJU Pharm Co. Ltd. (hereinafter AJU), for Stuart’s clinical stage drug candidate ST-100. Under this agreement, AJU has the exclusive right to develop and commercialize ST-100 for South Korean and certain Southeast Asian markets in exchange for certain financial and other consideration to Stuart.
In exchange for providing AJU with an exclusive regional license to ST-100, Stuart will receive an option-exercise fee payment and will be eligible to receive further undisclosed payments contingent upon the achievement of clinical, regulatory and sales milestones for ST-100, as well as tiered double-digit royalties on sales. AJU will be responsible for commercialization of ST-100 in the licensed region.
ST-100 is part of Stuart’s PolyCol™ (PolyCol) platform of synthesized collagen mimetics, which target and treat disease damaged extracellular matrix (ECM) collagen. ST-100 has demonstrated repair of corneal nerves in non-clinical studies, and corresponding restoration of the lacrimal function in its Phase 2 trial, with visual acuity improvement beginning on day 2 and symptom relief on day 14 of its 28-day Phase 2 trial. ST-100 also achieved the Schirmer’s Responder rate single approvable endpoint on day 28 of the Phase 2 trial, an important single approvable endpoint in dry eye disease.
Financial terms of the agreement were not disclosed.
About Stuart Therapeutics, Inc.
Stuart is the leader in the development of ECM targeting therapeutics for disease treatment. It’s platform technology, PolyCol, is portfolio of synthesized collagen mimetic peptides designed to specifically bind to and repair disease damaged helical collagen structures. This repair results in a restoration of homeostatic cell signaling, with a positive effect on cell growth, proliferation and reduction in inflammation. These effects occur rapidly in treated tissues, and Stuart has extensive research results in a variety of anterior and posterior segment ophthalmic disease indications. Stuart was founded in 2017 to advance research originally conducted at the University of Wisconsin. For more information, visit www.stuarttherapeutics.com.
About AJU Pharm.
AJU Pharm has focused on delivering quality healthcare solutions to improve lives of patients and healthcare professionals since established in 1953. AJU Pharm manufactures and distributes pharmaceutical products mainly in ophthalmology and is a total healthcare company that supplies medical devices and consumer health products in Korea.
For more information, visit www.ajupharm.co.kr
Eric Schlumpf, President & CEO
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SOURCE Stuart Therapeutics