FOSTER CITY, Calif. & SEOUL, Korea--(BUSINESS WIRE)--Jan. 6, 2019--
Gilead Sciences, Inc. (NASDAQ: GILD) and Yuhan Corporation (000100.KS;
Yuhan) today announced that the companies have entered into a licensing
and collaboration agreement to co-develop novel therapeutic candidates
for the treatment of patients with advanced fibrosis due to nonalcoholic
steatohepatitis (NASH).
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Under the agreement, Gilead will acquire global rights to develop and
commercialize novel small molecules against two undisclosed targets in
all countries, with the exception of the Republic of Korea where Yuhan
will retain certain commercialization rights. Yuhan and Gilead will
jointly conduct preclinical research, and Gilead will be responsible for
global clinical development. Gilead will also be responsible for
commercialization worldwide, outside of Yuhan’s rights in the Republic
of Korea. In connection with this agreement, Yuhan will receive an
upfront payment of $15 million and is eligible to receive up to an
additional $770 million in potential milestone payments upon achievement
of certain development and commercial milestones, as well as royalties
on future net sales. This agreement builds on the companies’ existing
commercial collaboration to support the promotion of Gilead’s medicines
in the Republic of Korea.
NASH is a chronic and progressive liver disease characterized by fat
accumulation and inflammation in the liver, which can lead to scarring,
or fibrosis, that impairs liver function. Individuals with advanced
fibrosis due to NASH, defined as bridging fibrosis (F3) or cirrhosis
(F4), may face serious consequences, including end-stage liver disease,
liver cancer and the need for liver transplantation, and are at a
significantly higher risk of liver-related mortality. Currently,
patients living with NASH have limited treatment options.
“This collaboration builds on our long-term partnership with Yuhan, with
a new focus on the investigation of novel approaches to treat patients
with advanced fibrosis due to NASH that complement our ongoing research
programs,” said John McHutchison, MD, AO, Chief Scientific Officer and
Head of Research and Development, Gilead Sciences. “We look forward to
working with the Yuhan team to advance our work in this area where there
is a significant unmet need for patients.”
“I am very pleased by this collaboration, which significantly expands
and deepens our longstanding, trusted partnership with Gilead. We are
confident that Gilead’s expertise in liver disease will accelerate the
development of our novel agents. As a company, we are committed to
investigating new therapeutics to improve the lives of patients with
NASH,” said Mr. Jung Hee Lee, President and CEO of Yuhan.
About Yuhan Corporation
Yuhan Corporation is a South Korea-based healthcare company founded in
1926. The company has positioned itself as one of the top pharmaceutical
companies in terms of market cap and sales revenue in Korea. The core
business consists of primary & specialty care, dietary supplements,
household & animal care, and contract manufacturing of active
pharmaceutical ingredients. It has a number of subsidiaries and a global
presence in the form of joint ventures with the Clorox Company (USA) and
Kimberly-Clark Corporation (USA). Yuhan (000100:KS) is a publicly-listed
company traded on the Korea Stock Exchange.
About Gilead Sciences
Gilead Sciences, Inc. is a research-based biopharmaceutical company that
discovers, develops and commercializes innovative medicines in areas of
unmet medical need. The company strives to transform and simplify care
for people with life-threatening illnesses around the world. Gilead has
operations in more than 35 countries worldwide, with headquarters
in Foster City, California. For more information on Gilead Sciences,
please visit the company’s website at www.gilead.com.
Gilead Forward-Looking Statement
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that are
subject to risks, uncertainties and other factors, including the risk
that the parties may not realize the potential benefits of this
collaboration program and Gilead may fail to develop and/or
commercialize any product candidates from the collaboration program. All
statements other than statements of historical fact are statements that
could be deemed forward-looking statements. These risks, uncertainties
and other factors could cause actual results to differ materially from
those referred to in the forward-looking statements. The reader is
cautioned not to rely on these forward-looking statements. These and
other risks are described in detail in Gilead’s Quarterly Report on Form
10-Q for the quarter ended September 30, 2018, as filed with the U.S.
Securities and Exchange Commission. All forward-looking statements are
based on information currently available to Gilead, and Gilead assumes
no obligation to update any such forward-looking statements.
For more information on Gilead Sciences, please visit the company’s
website at www.gilead.com,
follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs
at 1-800-GILEAD-5 or 1-650-574-3000.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190106005116/en/
Source: Gilead Sciences, Inc.
Gilead ContactsInvestors:Sung Lee+1
650-524-7792
Media:Arran Attridge+1 650-425-8975
Yuhan ContactsInvestors:Jaehong
Park+82 2-828-0265
Media:Jongwon Kim+82 2-828-0036
