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SK Biopharmaceuticals Expands Global Reach with $10.7 Million Cenobamate Deal

Dong-A ST to Spearhead Approval and Distribution in 30 Countries, Including South Korea and Russia
South Korea
s 326030.KO Mid and Small Cap 2000
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SK Biopharmaceuticals Co., a prominent South Korean pharmaceutical firm, has made a strategic move to expand the global presence of its anti-epileptic drug, Cenobamate. In a recent development, the company struck a deal worth up to 14 billion won ($10.7 million) with Dong-A ST, transferring commercialization rights to them in 30 countries.

Dong-A ST’s responsibilities under this agreement include obtaining regulatory approvals, overseeing drug product manufacturing, and handling sales in various regions. These include South Korea, Southeast Asia, the Middle East, Russia, and Australia.

The financials of the deal are structured to provide SK Biopharm an upfront payment of 5 billion won ($3.8 million). The company is also positioned to gain additional revenue, up to the total agreed amount, based on various milestones. These include obtaining domestic and international approvals, securing insurance reimbursements, and achieving sales targets.

Cenobamate’s journey began with SK Biopharm securing a substance patent in the United States in October 2007. The drug received regulatory approval as a new drug in November 2019 and was launched in the U.S. market in May 2020. Currently, Cenobamate is available in 108 countries, including the United States and 41 European nations.

The ongoing Phase 3 trials in South Korea, China, and Japan are focused on adult partial-onset seizures in epilepsy. Following the completion of these trials next year, Dong-A ST aims to launch Cenobamate in South Korea by 2026. Plans are also underway to extend its availability to additional markets in Southeast Asia, the Middle East, Russia, and South Africa.

Both companies have expressed optimism about this partnership, highlighting their commitment to ensuring Cenobamate’s availability and benefits to patients across the involved regions.

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