October 9, 2020
Licensing Agreement with Affamed for KDT-3594, a Novel Investigational Drug for Parkinson's Disease
Kissei Pharmaceutical Co., Ltd. (Head Office: Matsumoto, Nagano; Chairman and CEO: Mutsuo Kanzawa; "Kissei") announced that it has entered into an exclusive licensing agreement with Affamed Therapeutics Limited (Head Office: Hong Kong, China; CEO: Dr. Dayao Zhao; "Affamed") to develop and commercialize a novel investigational drug with the development code KDT-3594. It is an agent for Parkinson's disease that was discovered by Kissei.
Under this agreement, Kissei grants Affamed the exclusive right for development and commercialization in China, Taiwan, Hong Kong, Macao and six Southeast Asian countries (Singapore, Malaysia, Thailand, Indonesia, Vietnam, and Philippines). Kissei receives from Affamed an upfront payment, and will be eligible to receive development milestone payments according to stages of development and royalty payments according to the sales of product.
KDT-3594 is a novel orally administrable non-ergot dopamine agonist, which acts by stimulating dopamine receptors in the basal ganglia, thereby ameliorating the symptoms of Parkinson's Disease caused by insufficient action of dopamine. It is also confirmed as a new therapeutic agent for Parkinson's disease that KDT-3594 reduces the risk of the characteristic side effects of existing ergot and non-ergot dopamine agonists. KDT-3594 is currently under Phase 2 clinical trials in Japan.
Kissei focuses on drug discovery, research and development of new drugs, and aims at international expansion by licensing out strategy. One of the policies of PEGASUS, 5-year medium-term management plan launched in April 2020, is to strengthen earnings base overseas. In collaboration with partner companies, Kissei will contribute to the health of people around the world through developing novel drugs.
The financial effects on Kissei's consolidated business forecasts of the fiscal year ending in March 2021 by this agreement is currently under scrutiny, and will be announced at the time of the announcement of the financial results of the second quarter of the fiscal year ended in March 2021, scheduled on November 5, 2020.
About Parkinson's disease
Parkinson's disease is caused by a decreased dopaminergic neuron cell in the substantia nigra, and shows the symptoms of a movement disorder, such as Parkinsonian tremor (tremble), slow movement, muscular rigidity (muscular contraction), and postural instability (fall easily).
Parkinson's disease is designated as an "intractable disease" by the Minister of Health, Labour and Welfare. The number of patients with Parkinson's disease is estimated to be approximately 130,000* in Japan.
*: Based on the number of recipients of the certificates for special disease treatment in 2018.
About Affamed Therapeutics Limited
Affamed is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs in CNS and ophthalmology for patients in China and other Asian markets. Affamed is founded and funded in 2019 by CBC Group (formerly C-Bridge Capital), which is one of the largest and most active healthcare-dedicated investment firms in Asia.