Parataxis Korea announced on the 22nd via a public disclosure that it has terminated its technology licensing option agreement with Celation Biomed regarding candidate substances for treating fibrosis, including idiopathic pulmonary fibrosis (IPF).

According to the disclosure, the company sent a notice of termination regarding the contract signed on March 7, 2022, and listed June 22, 2026 — the date the termination letter was sent — as the date of occurrence and decision.

With this contract termination, Parataxis Korea is released from its obligation to pay additional milestone royalties and running royalties to Celation Biomed. However, it was confirmed that the 1 billion won in licensing fees previously received by Celation Biomed is not subject to refund.

Regarding the background of the contract termination, the company explained, "This was based on a strategic decision to enhance the competitiveness of our biotechnology business division."

Meanwhile, the contract originated in March 2022 with the signing of the technology licensing option agreement for fibrosis treatment candidate substances, including those for idiopathic pulmonary fibrosis. In October 2023, the company exercised the technology licensing option for candidate substance BBT-301 and paid the corresponding licensing fee.