SynCoreBio together with its strategic partner German company Medigene (MG) announced today (December 17 2015) for contract replacement of the SB05 EndoTAG ™ -1 agreement.
By signing this replacement contract, it will lead SynCoreBio to strengthen and implement the optimum use of this new drug technology (EndoTAG ™ Technology). The agreement will modify SynCoreBio’s total milestone payment and certain percentage of future sales royalty payment to MG. SynCoreBio will acquire not only the complete right of EndoTAG ™ technology but also the development of new indication product with the right of global market.
Medigene is focusing on the development of personalized T cell-based immune therapies in the field of cancer as well as autoimmune disease and developing highly innovative therapeutic process of clinical trials. SynCoreBio is focusing on the development of small molecules in the field of oncology and Dry AMD. SynCoreBio and Medigene have entered into strategic partnership of this EndoTAG-1 anticancer new drug co-development since May 2013.
The new agreement of EndoTAG ™ technology Platform full right transfer provides a “win-win-situation” for both companies and enables SynCoreBio to act independently in the further development of the drug candidate and to fully exploit the value of EndoTAG ™.
After acquiring this comprehensive EndoTAG ™ technology Platform, SynCoreBio will be able to develop and extend the future opportunities together with discovering the various possible use of this technology through innovative research and development and therefore maximize the EndoTAG ™ value of technology platform.