Radioliant Technology Licenses Radiopharmaceutical to South Korea for $571.5M

On July 17, 2024, an important partnership in the global medical technology sector was established. Hulian Technology, a prominent Chinese company specializing in radiation therapy, entered into a global licensing agreement valued at $571.5 million with the South Korean biotech giant SKBiopharmaceuticals. This significant deal marks a substantial leap forward in their collaborative efforts aimed at advancing cancer treatment.

According to the agreement, SKBiopharmaceuticals will gain exclusive rights to develop, produce, and market FL-091, a radiopharmaceutical product designed to target cancers that express the NTSR1 receptor. FL-091 is a cutting-edge small molecule radioligand carrier, recognized for its high affinity for NTSR1 and outstanding antitumor activity demonstrated in preclinical trials, thus providing new hope for cancer treatment.

This collaboration is built upon the significant expertise and shared vision both companies hold within their respective domains. Hulian Technology, as a rising global leader in radiation therapy, has garnered industry-wide recognition for its innovative nuclear drug development and successful preclinical research outcomes. On the other hand, SKBiopharmaceuticals stands as a dominant force in South Korean biotechnology, armed with robust global marketing and commercialization prowess. This partnership is anticipated to expedite the global deployment and acceptance of FL-091 and its related compounds, offering more effective treatment solutions to cancer patients worldwide.

The alliance not only underscores the pivotal roles of both companies in the global medical technology landscape but also signals a new phase in the application of radiation therapy for cancer treatment. As science and technology continue to evolve, it is expected that more innovative therapies will emerge, delivering improved treatment outcomes and enhancing the quality of life for cancer patients globally.

Looking ahead, Hulian Technology remains committed to fostering innovation and concentrating on the development of radiation therapy. The company aims to make significant strides in improving the prognosis of cancer patients and elevating their quality of life. This collaboration with SKBiopharmaceuticals serves as a powerful catalyst in achieving this mission.