Parma (Italy)- December 21, 2018 - Chiesi, an international research-focused healthcare Group (Chiesi Group), today announced the execution of an exclusive Global license agreement with TiumBio, a clinical stage private biotech based in South Korea specialized in researching innovative drugs for the treatment of rare diseases. Chiesi Group gains the rights to develop TiumBio’s proprietary small molecules targeting transforming growth factor beta (TGF-β) signaling pathway. TGF-beta inhibitor is a promising target which may play a role in several pathological processes by inactivating cells that cause fibrosis or scarring. The molecule will be developed for treatment of respiratory diseases with high unmet medical need such as Idiopathic Pulmonary Fibrosis (IPF).
Under the terms of the agreement, Chiesi Group will conduct and fund all further development, regulatory and commercialization activities in the respiratory area, while TiumBio will retain development and commercialization rights in other therapeutic areas. TiumBio is entitled to receive upfront, development, regulatory and commercial milestone payment up to $74M plus single digit royalties.
“This license agreement represents a perfect fit with Chiesi early stage pipeline” says Ugo Di Francesco, CEO, Chiesi Group “and it is aligned with our strategic objective to strengthen our position in the respiratory diseases with high unmet medical need”.
“We believe our TGF-beta inhibitor compounds have the potential to help patients suffering from significant unmet medical needs and limited treatment options,” commented Hun-Taek Kim, CEO, TiumBio. “We are very excited about this partnership with Chiesi, a company with long tradition and expertise in the field of respiratory diseases. Joining efforts with Chiesi under a common goal will advance the development of innovative therapies for patients living with IPF.”
About Chiesi Group
Based in Parma, Italy, Chiesi Farmaceutici is an international research-focused Healthcare Group, with over 80 years of experience in the pharmaceutical industry. Chiesi researches, develops and markets innovative drugs in the respiratory therapeutics, specialist medicine and rare disease areas. Its R&D organization is headquartered in Parma (Italy), and integrated with 6 other key R&D groups in France, the USA, the UK, Sweden and Denmark to advance Chiesi's pre-clinical, clinical and registration programmes. Chiesi employs o 5,300 people. For more information, please visit www.chiesi.com
TiumBio is a South Korea-based biopharmaceutical company dedicated to the discovery and development of innovative small molecule and biologic medicines. The company is developing clinical and pre-clinical drug candidates in the areas of immuno-oncology, fibrosis, endometriosis/uterine fibroids, and hemophilia. Founded and led by scientists, TiumBio is committed to delivering therapeutic benefits to the patients who suffer from difficult-to-treat diseases with high unmet needs. For more information, please visit www.tiumbio.com