Material management information related to investment judgment
|1. Title||Bridge Biotherapeutics has entered into a license agreement to acquire a preclinical asset to treat fibrotic diseases, including idiopathic pulmonary fibrosis (IPF)|
※ Investor Ratings
This contract is a conditional contract where payments are contingent on the achievement of clinical milestones and approval by the relevant drug regulatory authority. Recognition of revenue related to this contract will depend on the receipt of clinical trial results and regulatory approval of the drugs. According to the terms and conditions of this contract, this contract may be terminated in the event of suspension of research and development by a regulatory authority, if the drug does not receive regulatory drug approval, etc.
2) Summary of the contract
– This contract grants Bridge Biotherapeutics exclusive rights to the “Contract 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 of fibrotic diseases, as confirmed by various experimental data.
5) Duration of the contract
6) Terms of payment (KRW)
– In advance: 2 billion KRW
– Royalty: payments will be made at the agreed rate based on post-market sales
|3. Occurrence date (or confirmation date)||2022-04-19|
|4. Date of decision||2022-04-19|
|– Presence of external directors||Present (No.)||3|
|– Presence of the Statutory Auditors (members of the Audit Committee)||–|
|5. Other useful references for making investment decisions|
The total amount of this contract exceeds 10% of the share capital (KRW 43,370,315,742) of Bridge Biotherapeutics. Equity reflects changes in capital and capital surplus compared to the 2021 consolidated financial statements.
Through the acquisition of BBT-209 (GPCR19 agonist), Bridge Biotherapeutics retains three pipeline assets related to idiopathic pulmonary fibrosis, including BBT-877 (autotaxin inhibitor) and BBT-301 (channel regulator ionic).
Shaperon is a clinical-stage biotechnology company developing novel inflammasome inhibitors (established in 2008).
If there are any changes to this contract or if disclosure obligations arise, we will disclose the relevant details promptly.
|※ Title and date of other disclosures related to this one||
2022-04-19 Investment Judgment Material Management Information
All payments, including the initial payment, and milestone payments are non-refundable and the payment terms stated above 6) will only be paid when the previously agreed terms are met.
The License Agreement may be terminated subject to results of clinical trials, regulatory approval, marketing approval, and there is no obligation to provide cancellation penalties related to the termination of the contract.
Based on the results of the preliminary study, Bridge Biotherapeutics may not provide milestone payments to Shaperon.
Bridge Biotherapeutics Inc. published this content on April 19, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on April 19, 2022 01:43:07 UTC.
Public now 2022
Evolution of the income statement