Melior, Bukwang deal
Melior Discovery's spinout, Melior Pharmaceuticals I Inc. (Exton, Pa.), granted Bukwang exclusive rights to commercialize MLR-1023 in 36 countries in the Asia-Pacific region. Melior said the deal includes countries as far west as India, Oman, Saudi Arabia, Yemen and Turkey, but excludes Russia, Malaysia, Indonesia, Australia and Japan. The Lyn kinase activator is in preclinical development to treat Type II diabetes. Under the deal, Melior will receive an undisclosed upfront payment and be eligible for undisclosed development and regulatory milestones. Bukwang will co-manage preclinical and clinical testing in the U.S. and South Korea through to Phase IIb trials. Melior said preclinical testing is slated to begin within four to six months in the U.S., with South Korean trials beginning "shortly thereafter." Bukwang also received a right of first offer to access Melior technology relating to the underlying mechanism of action of MLR-1023. Melior said the option is related to additional IP and know-how around screening for Lyn kinase activators. ...