05 January 2022 | Wednesday | News
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Rivaara Immune to lead development and commercialization in India
GC Cell (KOSDAQ:144510) and Rivaara Immune Private Limited today announced that they have entered into an exclusive licensing agreement, pursuant to which Rivaara Immune has agreed to develop and commercialize Immuncell-LC® in India, Sri Lanka, and Bangladeshi. Developed by GC Cell, Immuncell-LC® is a patient-derived autologous T-cell immunotherapy for liver cancer, which was approved by the Korean MFDS back in 2007.
Under the terms of the agreement, Rivaara Immune has obtained the exclusive right to develop and commercialize Immuncell-LC® within India for liver cancer. In return, GC Cell is entitled to receive an undisclosed upfront payment, as well as payments for the achievement of commercial milestones, with royalties based upon the sales.
In addition, GC Cell will also receive a partial stake of Rivaara Immune and exclusive rights to supply media which is essential for the production of Immuncell-LC®.
The number of cancer patients in India is more than 1.3 million, about 6 times that of Korea, and India's liver cancer market is 2.3 times that of Korea’s. Notably, 5-year liver cancer survival rate is 4%, which is very low compared to 37% of Korea, so new treatments are urgently needed.
“Immuncell-LC®'s overseas expansion is based on its domestic success, pushing for technology transfer by country, and signing contract with Rivaara Immune in India is the first outcome,” said Dae-woo Park, CEO of GC Cell. “Both companies will cooperate in a win-win strategic partnership, and are also closely discussing with a number of partners in China and other countries in the Middle East.”
“Rivaara Immune is pleased to partner with GC Cell, a leader in Immune Cell Therapy in Korea. With this partnership we will be among the first, to bring to the Indian market, customized solutions to cater to the unmet needs of the liver cancer sufferers,” said Syd Daftary, Director of Rivaara Immune.