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ARTICLE | Company News

Bridge, Daewoong partner on BBT-401 for ulcerative colitis

December 21, 2018 7:28 PM UTC

Bridge Biotherapeutics Inc. (Seongnam, South Korea) and Daewoong Pharmaceutical Co. Ltd. (KSE:069620) partnered to co-develop BBT-401 to treat ulcerative colitis.

Bridge will receive an undisclosed upfront payment and be eligible for up to $40 million in development and commercial milestones, plus mid-single to low-double digit royalties. Daewoong will receive exclusive rights to develop and commercialize the small molecule inhibitor of pellino E3 ubiquitin protein ligase 1 (PELI1; pellino-1) in 22 Asian countries, including China, Japan and Korea...