LG Chem Revises Licensing Deal with US Firm for Obesity Drug
6 Articles
6 Articles
(Seoul = Yonhap News) Reporter Park Sang-hyun = LG Chem [051910] [had] a rare obesity treatment candidate 'B...' in a deal with the U.S. pharmaceutical company Rhythm Pharmaceuticals (hereinafter Rhythm).
Rhythm Pharmaceuticals and LG Chem Enter into Amendment to Bivamelagon Exclusive License Agreement
- Amendment revised royalty structure from low-to-mid-single digits to 1% on global net sales of Rhythm MC4R agonists, including setmelanotide, bivamelagon and RM-718 -
LG Chem has expanded the contract value for its rare obesity treatment candidate, licensed to the U.S. biotech firm Rhythm Pharmaceuticals, to 1.15 trillion won. By securing additional upfront payments and milestones, the company is accelerating global development. LG Chem plans to globally develop the oral MC4R (melanocortin-4 receptor) agonist ‘Bivamelagon’ with Rhythm Pharmaceuticals.
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