Full-Life Technologies Inks $571.5M Global Licensing Deal with SK Biopharmaceuticals for Radiopharmaceutical FL-091

Full-Life Technologies Signs $571.5 Million Licensing Agreement with SK BiopharmaceuticalsUnder the agreement, Full-Life Technologies grants SK Biopharmaceuticals the rights for the further development of FL-091, a radiopharmaceutical, aiming to advance this product as an innovative anti-tumor drug for the global market.

Heidelberg, Germany and Seoul, South Korea – July 17, 2024 – Full-Life Technologies Limited (“Full-Life Technologies”), a fully integrated international radiopharmaceutical therapeutics company, today announced that it has entered into an out-licensing agreement with global biotechnology company SK Biopharmaceuticals. Under the agreement, Full-Life Technologies grants SK Biopharmaceuticals exclusive worldwide rights to conduct clinical research, development, manufacturing, and commercialization of FL-091, a radiopharmaceutical targeting neurotensin receptor 1 (NTSR1)-positive cancers.

The total value of this transaction amounts to $571.5 million, comprising an upfront payment, research and development milestones, and commercial milestone payments, with royalties excluded. Under the terms of the agreement, SK Biopharmaceuticals will in-license FL-091, a radioactive drug conjugate (RDC) project targeting NTSR1, along with its backup compounds, and develop it into an innovative anti-tumor drug.

FL-091 is a small-molecule radioligand vector designed to precisely deliver radiopharmaceuticals to cancer cells by specifically binding to NTSR1. NTSR1 is a receptor protein that is selectively overexpressed in various solid tumors, including colorectal and pancreatic cancers.

SK Biopharmaceuticals also holds the right of first negotiation for other preselected RDC projects of Full-Life Technologies.

Mr. Sun Peiqi, CEO of Full-Life Technologies, stated, “This collaboration with SK Biopharmaceuticals highlights the potential of FL-091 in advancing cancer treatment and fully demonstrates SK Biopharmaceuticals’ firm commitment to developing its oncology business with innovation at its core. We look forward to further collaborations with SK Biopharmaceuticals in the future, leveraging their expertise and resources to advance the development of radiopharmaceutical therapies. This agreement also aligns with our strategic vision of fostering global partnerships and our dedication to making a positive impact on patients worldwide.”

Mr. Donghoon Lee, CEO and President of SK Biopharmaceuticals, stated, “The collaboration with Full-Life Technologies not only establishes a closer future partnership between the two companies in the rapidly emerging biotechnology sector but, more importantly, propels SK Biopharmaceuticals toward its goal of becoming a ‘major biotechnology company.’ Since announcing our strategic entry into the radiopharmaceutical field last year, we have been making steady progress toward this established objective. We look forward to further unveiling and implementing our business plans for Radiopharmaceutical Therapy (RPT) this year, and to actively advancing clinical development and commercialization in the near future, thereby providing more treatment options globally and creating new value.”

FL-091 is an innovative small-molecule radioligand carrier targeting NTSR1-positive solid tumors. Overexpression of NTSR1 is associated with disease progression in various cancers, including colorectal cancer, breast cancer, pancreatic cancer, and head and neck cancer. The FL-091 radioligand has demonstrated favorable biodistribution characteristics, significantly enhanced binding affinity for NTSR1, and excellent antitumor activity. Currently, 225Ac-FL-091, an alpha therapy candidate targeting NTSR1-positive cancers, is under development.

Full-Life Technologies Limited (“Full-Life Technologies”) is a fully integrated, international radiopharmaceutical therapy company with offices in Belgium, Germany, and China. Patient-centric on a global scale, Full-Life Technologies is committed to building a comprehensive nuclear medicine enterprise that integrates the research and development, manufacturing, and commercialization of radiopharmaceuticals. By leveraging leading innovative research to address the fundamental challenges currently facing radiopharmaceuticals, the company aims to advance the development of future therapies. The Full-Life Technologies team comprises a highly efficient entrepreneurial leadership group and seasoned scientists with extensive proven success in life sciences, radioisotope research, and clinical development.

SK Biopharmaceuticals focuses on the research, development, and commercialization of therapies for central nervous system (CNS) disorders and oncology. In 2017, to expand into the field of oncology, SK Biopharmaceuticals established a dedicated research center committed to achieving breakthroughs through R&D efforts. SK Biopharmaceuticals is the first and only Korean company to independently develop and commercialize the anti-epileptic drug cenobamate (brand name: XCOPRI®) in the United States. Since its U.S. launch in 2020, SK Biopharmaceuticals and its U.S. subsidiary, SK Life Science, Inc., have provided cenobamate to more than 100,000 patients worldwide. The drug has successfully entered five major regions: North America, Europe, Asia, Central and South America, and the Middle East and North Africa. Additionally, SK Biopharmaceuticals has eight investigational compounds in its pipeline for CNS and oncology indications. The company is also focused on discovering novel oncology therapies.