IntronBio Signs Conditional Option Agreement for Technology Transfer... "Expect Significant Scale Upon Main Contract"

Intron Bio announced on the 31st that it has signed an 'Evaluation License and Option Agreement' for the technology transfer of the superbug biopharmaceutical 'SAL200' with Swiss pharmaceutical company Basilea.

Basilea, headquartered in Switzerland, is a pharmaceutical company specializing in the development of new drugs for infectious diseases. Representative new drugs that Basilea has successfully obtained FDA approval for through clinical trials in the United States include the antifungal agent 'CRESEMBA' and the antibiotic 'ZEVTERA'.

Basilea reviewed the accumulated materials and data during the approval process of SAL200 for FDA Phase 2 clinical trials to assess the likelihood of clinical success. Subsequently, they decided to proceed with an internal evaluation test to review whether to adjust the Phase 2 clinical dose. To secure the usage rights of SAL200 during this period, Basilea signed this option agreement with Intron Bio.

Intron Bio will receive a certain contract payment simultaneously with the agreement. Upon completion of the evaluation test, which can take up to one year, an additional contract payment for exercising the option will be received.

Based on the evaluation test results, the decision to enter into the main technology transfer contract will be made. The key terms of the main technology transfer contract one year later have already been agreed upon along with this agreement. Due to confidentiality obligations between the two companies, specific details are not disclosed, but it is rumored that the total contract amount is substantial.

Yoon Kyung-won, CEO of Intron Bio, stated, "Basilea is a company with FDA clinical and approval experience in infectious disease drug development, making it a suitable partner to succeed with SAL200," adding, "The preliminary evaluation test for determining the clinical dose will further increase the probability of success in Phase 2 clinical trials."

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