Celltrion announced on the 22nd that it has signed a license-in agreement worth up to 769.5 billion won with U.S.-based Kaigene, Inc. The asset being licensed in is 'KG013,' a long-acting anti-APRIL antibody drug candidate incorporating half-life extension technology.

■ Deal Size: Up to 580.5 Million Dollars

The total contract value is up to 580.5 million dollars (approximately 769.5 billion won), including an upfront payment, development and regulatory approval milestones, and sales milestones. However, the actual amounts paid may vary depending on the development process.

■ KG013: A Second-Generation Antibody Targeting IgA Nephropathy

KG013 is a second-generation antibody drug candidate targeting APRIL (A Proliferation-Inducing Ligand), a signaling protein involved in the survival and function of antibody-producing B cells, for the treatment of immune diseases such as IgA nephropathy.

According to the disclosure, KG013 possesses differentiated characteristics in terms of suitability for long-term treatment, dosing, and dosing intervals, based on its APRIL-targeting mechanism that selectively acts on a key pathway of the disease and improved in vivo persistence compared to existing first-generation therapies.

■ Contract Term and Termination Conditions: A Conditional Agreement

The contract term runs from the signing date of October 22, 2026, until the latest of the following, by country: ▲the expiration of Kaigene's licensed material patents, ▲12 years after the first sale of the licensed product, or ▲the expiration of the exclusivity period granted by regulatory authorities.

The agreement is conditional, and cost recognition may vary depending on the success of clinical trials and regulatory approval. The contract may be terminated if R&D is halted by regulatory authorities or if regulatory approval fails, and Celltrion has no obligation to pay penalties upon termination.

In addition, development, approval, and sales milestones as well as royalties beyond the upfront payment may not be paid if the relevant criteria are not met. The specific terms and amounts of the upfront payment, milestones, and royalties have been withheld from disclosure at the request of the counterparty, with the withholding period extending until February 15, 2047.