Sciwind Biosciences and HK inno.N Corp Announce Ecnoglutide Licensing Deal in South Korea

HANGZHOU, China and SEOUL, South Korea, May 7, 2024 – Sciwind Biosciences Co., Ltd., a company specializing in developing treatments for metabolic diseases, and HK inno.N Corporation, a South Korean pharmaceutical company, have announced a new licensing and partnership agreement. This collaboration aims to develop and commercialize ecnoglutide injection (XW003), a novel GLP-1 analog designed to treat type 2 diabetes, obesity, and MASH, specifically for the South Korean market.

According to the terms of the agreement, Sciwind Biosciences will receive an initial payment and could receive up to $56 million in additional payments tied to development, regulatory, and commercial milestones. Additionally, Sciwind will be eligible for double-digit royalties on future product sales. HK inno.N Corporation has gained exclusive rights to develop and market ecnoglutide in South Korea, while Sciwind retains global rights outside of South Korea.

Hai Pan, Ph.D., founder and CEO of Sciwind Biosciences, expressed satisfaction with the partnership, noting that it combines HK inno.N’s pharmaceutical expertise in South Korea with Sciwind’s innovative approach to metabolic disease treatments. Dr. Pan highlighted the promising results of clinical trials for ecnoglutide, which show significant benefits for patients with type 2 diabetes and obesity, alongside satisfactory safety and tolerability profiles.

Dalwon Kwak, CEO of HK inno.N, echoed the enthusiasm for the partnership, emphasizing the impact of metabolic diseases on millions of South Korean patients. Kwak highlighted ecnoglutide's strong performance in clinical studies and shared the company's goal of making it a blockbuster drug in South Korea, much like their success with the gastroesophageal reflux disease medication, K-CAB.

Ecnoglutide (XW003) is described as a novel, long-acting GLP-1 analog that is optimized for better biological activity, cost-effective production, and once-weekly dosing. GLP-1 analogs are recognized for their effectiveness in managing type 2 diabetes and obesity and have shown potential for treating MASH. Clinical trials have demonstrated that ecnoglutide offers therapeutic benefits and is well tolerated by patients.

Sciwind Biosciences, a clinical-stage biopharmaceutical company, is focused on discovering and developing innovative therapies for metabolic diseases. Their product pipeline includes several promising drug candidates such as the long-acting GLP-1 peptide analog ecnoglutide (Phase 3), an oral version of ecnoglutide (XW004, Phase 1), and an oral small molecule GLP-1 receptor agonist (XW014, Phase 1). Sciwind has developed proprietary technologies for oral peptide and inhaled protein therapeutic delivery platforms, leading to the identification of new drug candidates based on these platforms.

HK inno.N Corporation, a South Korean pharmaceutical company listed on KOSDAQ, began as the pharmaceutical division of CJ Cheil Jedang Corp. in 1984 and was acquired by Kolmar Korea Corp. in 2018. Renamed in 2020, HK inno.N operates in the prescription drugs, health foods, and cosmetics sectors. The company aims to create a healthier world by enhancing its pharmaceutical portfolio with innovative drugs for digestive diseases, autoimmunity, and cancer. HK inno.N's notable achievements include the development of the K-CAB Tab., a prominent drug for gastroesophageal reflux disease. In addition to pharmaceuticals, HK inno.N is expanding its business into beverages, health foods, and cosmetics, led by CONDITION, a well-known hangover relief brand in Korea.