Sciwind Biosciences Co., Ltd., a clinical stage biopharmaceutical company focused on developing treatments for metabolic disease, and HK inno.N Corporation, a South Korean commercial stage pharmaceutical company (KOSDAQ: 195940), today announced a licensing and partnership agreement for the development and commercialization of ecnoglutide injection (XW003), a novel GLP-1 analog for the treatment of type 2 diabetes, obesity and MASH, in South Korea.

Under the terms of the agreement, Sciwind Biosciences will receive an upfront payment and will be eligible to receive additional development, regulatory, and commercial milestones of up to US$56 million, as well as up to double-digit royalties from future product sales. HK inno.N Corporation will receive the exclusive rights to develop and commercialize ecnoglutide in the Republic of Korea. Sciwind Biosciences retains the right to develop and commercialize ecnoglutide in all other global markets.

"We are very pleased to enter into this partnership with HK inno.N, which brings together their strong expertise in pharmaceutical development and commercialization in South Korea with the innovative experience of Sciwind in discovering novel therapeutics for metabolic diseases," said Hai Pan, Ph.D., founder and Chief Executive Officer of Sciwind Biosciences. "GLP-1 analogs are a promising class of medications for a range of indications. Clinical trials of ecnoglutide have demonstrated strong treatment benefits for patients with type 2 diabetes and obesity, as well as satisfactory safety and tolerability."

"As metabolic diseases are affecting millions of patients in South Korea, we are excited to partner with Sciwind to develop ecnoglutide for the treatment of type 2 diabetes, obesity, and MASH," said Dalwon Kwak, Chief Executive Officer of HK inno.N. "Ecnoglutide has demonstrated a strong and differentiated product profile in clinical studies and we look forward to working together with Sciwind to rapidly progress its development in South Korea. Based on our experience of successful development and commercialization for brand new gastroesophageal reflux disease drug, K-CAB, we aim to make ecnoglutide our next blockbuster drug of more than 100 billion won in Korea."