Daewoong Pharmaceutical Indonesia, part of the Korean drugmaker’s overseas network. (Credit: Daewoong Pharmaceutical)
Daewoong Pharmaceutical has taken control of a U.S. anti-aging drug platform tied to a licensing deal worth up to $239 million, bringing under its own roof a technology its affiliate HanAll Biopharma had already licensed for age-related eye and ear diseases.
Daewoong said Thursday it won an auction for core assets from Turn Biotechnologies, a U.S. biotech developing mRNA-based cellular reprogramming technology. The Korean drugmaker signed the agreement on Wednesday after being selected as the final buyer in a live auction on May 6.
The transaction gives Daewoong Turn Bio’s position in a 2024 licensing contract with HanAll, which covers Turn Bio’s Epigenetic Reprogramming of Aging platform, known as ERA, for ophthalmic and otic diseases.
The HanAll contract is worth up to $239 million, including a $1 million upfront payment and $238 million in development, regulatory and sales milestones. Royalties are separate. Up to $4 million in joint research cost reimbursements is not included in the total.
ERA uses mRNA to deliver reprogramming factors into aged cells. The goal is to restore younger cell function while preserving the cell’s original identity.
Daewoong said it plans to use the technology in age-related eye and hearing diseases and may expand it to other aging-related conditions.
Park Seong-soo, CEO of Daewoong Pharmaceutical, said aging research has become a field that could change future medicine beyond a single disease.
“By securing this platform technology, Daewoong will advance next-generation treatment strategies that can approach the root causes of age-related diseases and build global-level R&D competitiveness,” Park said.
The Turn Bio assets were previously part of a proposed transaction with Klotho Neurosciences, a Nasdaq-listed company developing anti-aging and neurodegenerative disease therapies.
Klotho said in September it had signed a letter of intent to acquire select Turn Bio assets, including ERA, the eTurna RNA delivery system and an existing partnership with HanAll worth up to $300 million.
The transaction did not close. Klotho said a week later that the letter of intent had expired.
HanAll’s 2024 announcement with Turn Bio said the licensing deal could exceed $300 million for the first product. Daewoong’s latest filing puts the contract value at $239 million, excluding royalties and research cost reimbursements.
Kim Ji-hye
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