I AM Yeon Lee Reaches Agreement on COVID-19 Treatment Rights... "Entering the Bio Business"

[Asia Economy Reporter Hyunseok Yoo] I am Eunyeoni announced on the 11th that it has signed a term sheet related to acquiring the Indonesian and Malaysian distribution rights for the novel coronavirus treatment Lenzilumab from the US company Humanigen (HGEN).

The licensed regions initially secured are Indonesia and Malaysia. Singapore distribution rights are also included as an option. The plan is to start with the Southeast Asian region and then expand the distribution rights to the broader Asian market. Additionally, discussions will be held regarding the introduction of other excellent pipelines owned by Humanigen in the future.

Humanigen is a Nasdaq-listed company developing cell and gene therapies. Its main pipeline, Lenzilumab, is currently undergoing Phase 3 clinical trials for COVID-19 treatment in the US and Brazil. Humanigen plans to apply for Emergency Use Authorization (EUA) for Lenzilumab within the first quarter of this year.

Interim clinical results of Lenzilumab showed that 92% of severely ill patients treated improved and were discharged in an average of about 5 days. This is more than twice the discharge period of approximately 11 days for the untreated control group. Recognizing the excellence of Lenzilumab, Humanigen also received a public offering investment worth $72 million last year, led by JP Morgan.

According to the Johns Hopkins University COVID-19 Center (CSSE), as of the 8th, the cumulative confirmed COVID-19 cases in Indonesia reached 797,723, and Malaysia recorded 128,465 cases. The daily new confirmed cases in these two countries are about 12,000.

A company official stated, “Indonesia is the region with the highest number of confirmed cases among Southeast Asian countries, so sales from the treatment are expected to be high,” and added, “We have also secured negotiation rights to acquire additional distribution rights for other countries depending on the trend of COVID-19 confirmed cases.” He continued, “We will establish collaboration and sales plans through a local corporation that has networks with major pharmaceutical companies and health ministries in Indonesia and Malaysia,” and “We plan to proceed with contract manufacturing organization (CMO) business along with pharmaceutical company acquisitions in the future.”