Telcon RF Pharmaceutical-KPM Tech, Humangen US COVID-19 Treatment Successful Topline Phase 3 Clinical Results..."Milestone Payment"

[Asia Economy Reporter Hyunseok Yoo] Telcon RF Pharmaceutical and KPM Tech announced on the 9th that they have paid the first installment of the licensing fee for Lenzilumab to Humanigen. Telcon RF Pharmaceutical and KPM Tech, as joint investors, each bore half of the total $6 million (approximately 6.7 billion KRW).

Telcon RF Pharmaceutical and KPM Tech signed a contract with Humanigen last November to acquire the development and commercial rights for Lenzilumab in South Korea and the Philippines.

The first installment payment was made according to the milestone contract, which stipulated payment upon the announcement of the successful Phase 3 clinical trial of Lenzilumab. The second installment will be paid upon future Emergency Use Authorization (EUA) or Biologics License Application (BLA) approval of Lenzilumab in the United States.

Humanigen announced the Phase 3 clinical trial results for Lenzilumab in the treatment of COVID-19 on the 29th of last month (U.S. local time). In the Kaplan-Meier estimates used for survival analysis, Lenzilumab showed 15.6%, while the placebo group showed 22.1%. Additionally, when cross-comparing the relative survival rate without the need for invasive mechanical ventilation (IMV), a validated measure used in respiratory distress evaluation studies, Lenzilumab demonstrated a 54% improvement compared to dexamethasone (15%) and tocilizumab (18%).

Both the Lenzilumab and placebo groups received the current standard treatments, with most patients receiving steroids, remdesivir, or a combination of steroids and remdesivir.

Bob Atwill, Humanigen’s Asia-Pacific Chief Officer, stated, “Lenzilumab alleviates the harmful inflammatory response in hypoxic COVID-19 patients and safely supplements immune cells (T-cells). There have been no newly discovered serious adverse events (SAEs) or side effects attributable to Lenzilumab, and it can be used alongside other treatments. We believe it will become the new standard treatment for COVID-19 in South Korea and the Philippines.”