Curacle Returns Technology for Ophthalmic Drug Exported to French Company Thea (Comprehensive)

Curacle's oral retinal vascular disease treatment CU06, which was exported to France's Th?a Open Innovation in 2021, has returned. Although a contract worth up to $163.5 million (approximately 190.7 billion KRW) was expected, only the $6 million (approximately 7 billion KRW) signing fee and research and development costs were secured.

On the 21st, Curacle announced through a public disclosure that it had been notified of the intention to return the rights to CU06, which had been licensed to Th?a Open Innovation. CU06 is a vascular endothelial dysfunction inhibitor being developed for ophthalmic diseases such as diabetic macular edema and wet age-related macular degeneration. In October 2021, Curacle exported the global rights excluding Asia to Th?a Open Innovation, a French ophthalmology specialist company, for a signing fee of $6 million and up to $163.5 million including milestone payments.

However, after two and a half years since the export, the rights to CU06 have been returned to Curacle. According to the contract between the two companies, after meetings including a 30-day meeting and CEO meetings, the rights are scheduled to be returned, and there will be no obligation to return the already received signing fee and research and development costs.

In February, Curacle announced that it confirmed the vision improvement effect of CU06 in a U.S. Phase 2a clinical trial involving 67 patients with diabetic macular edema. Following consultations with Th?a and others, the plan was to proceed with Phase 2b within this year. Curacle is also attempting to expand CU06’s indications to ulcerative colitis under the development code CU104.

Curacle stated, "We confirmed the vision improvement effect and safety through the Phase 2a clinical trial," and added, "Regardless of the return of rights, we plan to carry out the subsequent development plans for CU06 without disruption.”