Material Management Information related to Judgment of Investment
| 1. Title | Bridge Biotherapeutics entered into a License agreement to acquire a preclinical asset to treat fibrotic diseases including Idiopathic Pulmonary Fibrosis (IPF) | |
| 2. Details |
※ Investor Notes This contract is a conditional contract where payments are contingent on the achievement of clinical milestones and approval from the relevant drug regulatory authority. Recognition of revenue relating to this contract will be dependent on the achievement of clinical trial and regulatory drug approval results. As per the terms and conditions of this contract, this contract may be terminated in the event that research and development is suspended by a regulatory authority, if the drug fails to receive regulatory drug approval, etc. 1) Licensor 2) Contract Summary – This contract grants Bridge Biotherapeutics exclusive rights to the “contracted compound” and stipulates the rights and obligations of each company. 3) Effective Date: 4) License Details – Superior efficacy was observed in IPF animal models and the compound is expected to inhibit pro-inflammatory signals from fibrotic diseases, as supported by various experimental data. 5) Contract Period 6) Payment Terms (KRW) – Upfront: KRW 2 billion – Milestones – Royalty: Payments will be made at the agreed rate based on post-commercialization sales |
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| 3. Date of Occurrence(or Date of Confirmation) | 2022-04-19 | |
| 4. Decision Date | 2022-04-19 | |
| – Attendance of Outside Directors | Present(No.) | 3 |
| Absent(No.) | – | |
| – Attendance of Auditors (members of Audit Committee) | – | |
| 5. Other references useful for making invest decisions | ||
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The total amount of this contract exceeds 10% of the equity capital (KRW 43,370,315,742) of Bridge Biotherapeutics. The equity capital reflects the changes in both capital and capital surplus from the 2021 consolidated financial statement.
Through the in-licensing of BBT-209 (GPCR19 agonist), Bridge Biotherapeutics retains three pipeline assets relating to idiopathic pulmonary fibrosis, including BBT-877 (Autotaxin inhibitor) and BBT-301 (Ion channel regulator). Shaperon is a clinical stage biotech company developing novel inflammasome inhibitors (established in 2008). If there are any changes pertaining to this contract or should any disclosure obligations arise, we will disclose the relevant details promptly. |
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| ※ Title and date of other disclosure related to this one |
2022-04-19 Material Management Information related to Judgment of Investment(특발성 폐섬유증 (IPF) 치료제 후보물질의 기술 도입 계약 체결) |
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All payments, inclusive of the upfront payment, and milestone payments are nonrefundable and the payments terms stipulated above 6) will only be paid when pre-agreed conditions are met.
The licensing agreement may be terminated dependent on clinical trial results, regulatory approval, commercialization approval, and there is no obligation to provide cancellation penalties relating to the contract termination. Based on preliminary study results, Bridge Biotherapeutics may not provide milestones payments to Shaperon. |
Disclaimer
Bridge Biotherapeutics Inc. published this content on 19 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2022 01:43:07 UTC.
Publicnow 2022
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Income Statement Evolution
