Neurobo Pharma Enters into Licensing Agreement with Dong-A ST
January 19, 2018
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Neurobo Pharmaceuticals Inc. has entered into licensing agreement with Dong-A ST Co Ltd. to develop and commercialize its herbal drug candidate DA-9801 for diabetic neuropathy. Under the agreement, Dong-A ST will received upfront payment of USD 2 million and a 5% stake in NeuroBo Pharma. In addition, NeuroBo Pharma agreed to pay Dong-A ST up to USD 178 million milestone payments and additional sales-tied royalties if the drug candidate clears clinical and commercial milestones. DA-9801 is a treatment for diabetic neuropathy. In 2011, the drug received support from the Ministry of Health and Welfare's healthcare research and development project.
Dong-A ST Co Ltd is a Korea-based company mainly engaged in the production and sale of pharmaceuticals. The Company is involved of the manufacturing and sale of gastric mucosal protective agents, antihistamines, ischemic modifiers, antithrombotic agents, functional dyspepsia, hyperlipidemia, growth hormone, peptic ulcer treatments, cerebral metabolism improvement and hypertension treatments. It produces and sells diagnostic reagents for hepatitis E, I, A and B. In addition, it is engaged in the production and sale of medical devices including implants for artificial joint and maxillofacial surgery. The Company distributes its products in domestic and overseas markets such as Brazil, Turkey and Cambodia.
DONG-A ST CO., LTD. 
