Out-licenses BxC-I17e, Exosome-Based Therapeutics for New Indications
KRW 3 Billion Non-Refundable Upfront Payment + Milestone Payments + Double-Digit Percentage Royalties

 Brexogen, a leading biotechnology company specializing in exosome-based therapeutics, has announced a technology transfer and licensing agreement with BMI Korea for BxC-I17e, an innovative exosome-based injectable therapeutic. This agreement marks the first major licensing deal for an exosome therapeutic in Korea, signifying a major milestone in the commercialization of exosome-based medicines.

Advancing Exosome Therapeutics for New Indications

BxC-I17e is a key asset in Brexogen's pipeline and is currently undergoing clinical trials in the United States for atopic dermatitis. Recognizing its broader therapeutic potential, BMI Korea has secured rights to expand its development into potential indications excluding immunological indications, covering both domestic and key export markets.

While financial terms remain confidential, Brexogen will receive:

• KRW 3 billion (approximately USD 2.3 million) as a non-refundable upfront payment
• Milestone payments linked to clinical, regulatory, and commercial progress
• Double-digit percentage royalties on annual net sales
  Additionally, Brexogen will share in future licensing revenues should BMI Korea pursue further out-licensing agreements with third parties.

Strategic Collaboration to Accelerate Market Entry

BMI Korea, a pharmaceutical company with annual revenues exceeding KRW 100 billion (USD 77 million), specializes in prescription drugs, biologics, medical devices, and aesthetic products. The company operates large-scale contract manufacturing (CMO) facilities in Jeju and Osong, Chungbuk, with extensive expertise in regulatory approvals, production, and commercialization.

Under this partnership, BxC-I17e will be manufactured at BMI Korea's cutting-edge facilities, ensuring scalability for both clinical and commercial supply.

"Partnering with BMI Korea is a significant step forward for Brexogen," said a Brexogen representative. "Their robust pharmaceutical manufacturing expertise provides a strong foundation for the commercialization of BxC-I17e, allowing us to accelerate market entry while ensuring high-quality production."

A BMI Korea spokesperson added:
"This agreement positions BMI Korea as a leader in exosome-based therapeutics. By securing one of the most advanced pipelines in the industry, we are poised to achieve Korea's first regulatory approval for an exosome therapy and expand our biopharmaceutical portfolio."

A Breakthrough for the Exosome Therapeutics Industry

To date, globally, there is no approved exosome-based therapeutics for commercial use. This partnership is expected to drive innovation in exosome drug development and set new industry standards.

Founded in 2019, Brexogen is a biotechnology company pioneering Natural Biomacromolecule Cargo-Controlled Exosome Technology for therapeutics, medical devices, and aesthetic applications. The company's flagship program, BRE-AD01 for atopic dermatitis, is currently in Phase 1 clinical trials in the U.S..

Brexogen has also successfully commercialized BREXTEM-S (for skin rejuvenation) and BREXTEM-H (for hair restoration), offering exosome-based solutions for clinical and hospital use. Looking ahead, Brexogen is actively preparing for its KOSDAQ listing in 2026, with Korea Investment & Securities serving as the lead underwriter.

This agreement between Brexogen and BMI Korea is expected to accelerate the clinical and commercial adoption of exosome-based therapeutics, paving the way for groundbreaking advancements in regenerative medicine.