Rophibio, an affiliate of Amicogen (CEO Pyo Jjeo), announced on the 27th that it has signed a license-out contract worth 50 billion KRW with Sudair Pharmaceutical for Drugs Company (SPC), a pharmaceutical company in the Middle East.
Since obtaining global clinical approval, Rophibio has been continuously striving to secure license-out contracts and successfully completed overseas investment attraction with a European pharmaceutical company in August, accelerating its full-scale entry into the global market.
SPC, headquartered in Riyadh, Saudi Arabia, will begin supplying Rophibio's first biosimilar to 11 countries in the Middle East and plans to maintain ongoing cooperation with Rophibio. Currently, Rophibio is developing multiple biosimilar candidate substances.
Through this license-out contract, Rophibio expects a cash inflow effect of approximately 50 billion KRW over the next 10 years from license revenue and sales of commercialized products. Rophibio is currently negotiating license contracts with about 20 pharmaceutical companies in major countries such as the United States and Europe, and these negotiations are expected to gain momentum with the full-scale Phase 3 clinical trials starting in December.
Additionally, Rophibio has initiated joint development discussions for mid- to long-term cooperation with numerous global companies and expects visible results soon.
Rophibio CEO Hong Seung-seo stated, “Rophibio, once a small company not well known in the global market, has proven its innovative technology and business potential through this contract,” adding, “This achievement will be an opportunity to elevate Rophibio’s corporate value to the next level.”
Dr. Yasser Alobidaa, CEO of SPC, said, “The partnership with Rophibio will be an important milestone for the development of pharmaceuticals in Saudi Arabia. This collaboration, combining Sudair Pharma’s regional expertise and Rophibio’s innovative research technology, reflects the shared vision of both companies to enhance patient care and promote the growth of the biopharmaceutical ecosystem in Saudi Arabia.”
He continued, “This cooperation supports the localization of advanced medical technology and aligns with the goals of Saudi Vision 2030,” adding, “It will contribute to establishing Saudi Arabia as a regional hub for bio and pharmaceutical innovation.”
Meanwhile, as biosimilars are becoming a key growth driver in the pharmaceutical industry, industry experts highly evaluate Rophibio’s potential to emerge as a core company leading the next-generation global bio market.
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