Novateur Ventures Heralds Client Daewoong Pharmaceutical’s Global License Agreement with Vitalli Bio
A new drug candidate for autoimmune disease
VANCOUVER, BC, CANADA, May 4, 2023 – Novateur Ventures, a global life sciences advisory firm, is pleased to announce that our client Daewoong Pharmaceutical, a leading South Korean pharmaceutical company has signed a Global License Agreement with Vitalli Bio, a US biotechnology company, for its autoimmune disease drug candidate DWP2133388.
Daewoong will receive over US$10 million in upfront commitments, and the deal is worth up to US$477 million. In addition, Vitalli Bio will be granted an option to license earlier stage dual-target inhibitors in development by Daewoong. For further details, see full announcement.
“We are pleased to have worked with Novateur Ventures in facilitating this transaction. They have provided timely and professional guidance throughout the process.”
Jeon Sengho, CEO, Daewoong Pharmaceutical
“It has been a pleasure to provide advisory services on product and business development and to help facilitate this transaction between Daewoong Pharmaceutical and Vitalli Bio.”
Ali Ardakani, Founder & Managing Director, Novateur Ventures
About Daewoong Pharmaceutical
Daewoong Pharmaceutical has 8 global branches, the most numerous branches among Korean pharmaceutical corporations, and has constructed various infrastructure including R&D collaboration, manufacturing, sales to supply outstanding products desired by international markets. Daewoong Pharmaceutical will ceaselessly care for and foster promoting workforce diversity and contribute to improving the operational environment and technical capacities of local pharmaceutical manufacturers for them to thrive global healthcare companies.
About Novateur Ventures
Novateur Ventures is an established life sciences advisory and investment firm with extensive experience in business development and product development of therapeutics, medical devices, and digital health products. For more information, visit https://www.novateur.ca/.
Ali Ardakani
Founder and Managing Director
Novateur Ventures
ali@novateur.org
Media contact:
Kamran Shaikh, Account Director
PR Associates
kshaikh@prassocisates.com
(778)-846-5406
