Sprint Bioscience Collaborate with LG Chem to Develop Novel Treatments for NASH and Metabolic Disorders
Sprint Bioscience AB (publ.) and LG Chem Life Sciences Company have entered into a collaboration and license agreement for the research, development, and commercialization of Sprint Bioscience’s discovery stage program for NASH and metabolic disorders.
Sprint Bioscience AB (publ) (Sprint Bioscience) and LG Chem Life Sciences Company (LG Chem) have entered into a collaboration and license agreement for the research, development, and commercialization of drug candidates. Under the agreement, Sprint Bioscience licenses a discovery stage program to LG Chem for potential treatments of NASH and metabolic disorders. Subsequently, LG Chem will fully fund and have full control over further development and worldwide commercialization rights.
“We are very happy to have entered into this agreement with LG Chem Life Sciences Company, a perfect partner to further develop this program. The agreement also further validates the quality of our drug discovery programs and the global reach of our network within the pharma industry.” said Dr. Anders Åberg, CEO of Sprint Bioscience.
“We are entering into this collaboration with Sprint Bioscience as a key step in expanding our portfolio in NASH and other metabolic disorders,” said Dr. Jeewoong Son, President of LG Chem Life Sciences Company. “Leveraging Sprint Bioscience’s expertise in fragment-based drug discovery capability and LG Chem Life Sciences’ capability in pharma-ceutical development, we aim to accelerate bringing new treatment options for NASH and metabolic syndrome.”
Under the terms of the agreement, Sprint Bioscience is eligible to receive upfront and research funding during the first 12 months, plus potential additional research funding, preclinical, clinical and net sales-based milestone payments totaling up to approximately 230 MUSD. Furthermore, Sprint Bioscience is eligible to receive royalties on worldwide net sales of any resulting products under the collaboration.
About LG Chem
LG Chem Life Sciences Company focuses on developing, manufacturing, as well as commercializing pharmaceutical products globally. The company seeks to expand and make global presence by focusing on key core therapeutic areas of Immunology, Oncology, and Metabolic Diseases (specifically, diabetes and related metabolic diseases). To achieve such, its strategy is to actively pursue global collaboration encompassing from asset-centric to strategic investment and collaboration.
More information is available at; bio.lgchem.com/en/main.
For further information, please contact:
Anders Åberg, CEO, Sprint Bioscience
Tel: +46-8-411 44 55
Sprint Bioscience AB is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8:30 am CET on March 28, 2019.
About Sprint Bioscience
Sprint Bioscience AB (publ) is part of the new Swedish pharmaceutical industry and has the goal to develop drug candidates for the global pharmaceutical market within the field of oncology and metabolism in a more time- and resource-efficient manner. Sprint Bioscience is situated in Stockholm, Sweden. Sprint Bioscience share is listed on Nasdaq First North Premier and traded under the name SPRINT.
Additional information is available on the company website; www.sprintbioscience.com.
Certified Advisor is FNCA Sweden AB, +46 (0)8 528 00 399 www.fnca.se.
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