Curacle, a company developing treatments for intractable vascular diseases, announced on the 21st that it received a notice of intent to return the rights for the retinal vascular disease treatment 'CU06-RE' from the French ophthalmology specialist company 'Thea Open Innovation' (hereinafter Thea).
The treatment is an oral medication for diabetic macular edema and wet age-related macular degeneration.
In October 2021, Curacle transferred the global rights for the treatment, excluding Asia, to Thea.
The contract was valued at an upfront payment of 6 million USD (approximately 7 billion KRW) and milestone payments totaling 157.5 million USD (approximately 180 billion KRW).
Curacle stated that it received the notice of intent to return the rights for the treatment from Thea on the 16th.
The two companies will conduct consultations for 30 days starting from the 16th, after which Thea will make a final decision on whether to return the rights.
Curacle stated that even after the rights are returned, it has no obligation to return the contract money or research and development costs, and plans to proceed with the subsequent development of the treatment.
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