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Donga ST exports new drug technology worth million to US

Donga ST exports new drug technology worth million to US

Posted April. 12, 2016 07:16,   

Updated April. 12, 2016 07:19

한국어

Donga ST has exported new drug technology worth some 70 billion won to a U.S. pharmaceutical company. Donga ST said it signed a 61.5 million-dollar contract to export new drug technology with Tobira, a U.S. pharmaceutical company, at its head office in Seoul’s Dongdaemun district on Monday.

Donga ST is exporting technology to produce "Evogliptin," a new drug material developed by the company. The company has also developed "Suganon," a treatment for diabetes, by using the material, and introduced the product in Korea from March.

Tobira aims to develop, more than anything, non-alcoholic hepatitis treatment with the material. According to a market report released by Deutsche Bank, the global non-alcoholic hepatitis treatment market will exceed 35 trillion won (30.5 billion dollars) in 2025.

Donga ST will receive 61.5 million dollars including the down payment in phases through clinical development, licensure and sale. “If sales exceed sales target agreed upon by the two companies, we will also receive a portion of the sales as royalty in extra,” a source at Donga ST said.

Donga ST has also decided to allow Tobira to develop other treatments by using the material. If Tobira successfully develops a new drug, Donga ST will get additional royalty. Donga ST also plans to export original material for Evogliptin to the U.S. drugmaker. “We will continue to develop new drug materials that can be used in developing diverse treatments going forward," Donga ST CEO Kang Su-hyeong said.



김성모 기자mo@donga.com