Aribio announced on the 24th that it has signed a Memorandum of Understanding (MOU) with Arcera, a life sciences company headquartered in Abu Dhabi, for research and collaboration on the Alzheimer's disease treatment AR1001. Arcera is a global pharmaceutical company under the Abu Dhabi sovereign wealth fund (ADQ) of the United Arab Emirates (UAE).
This collaboration was made possible by initiating discussions with global sovereign wealth funds through the South Korean government's biohealth industry promotion policies and the Korea Development Bank (KDB)'s support for attracting overseas investment and expansion. The two companies will cooperate in ▲exclusive sales rights agreements for AR1001 for the treatment of Alzheimer's disease and other neurodegenerative diseases in mutually agreed regions ▲strengthening partnerships through strategic investments ▲joint research and development in the field of degenerative neurological diseases based on mutual interests.
The agreement took effect with the signatures of Aribio CEO Jeong Jae-jun and Arcera CEO Isabel Afonso at an official event held in Abu Dhabi. Attendees included Fred Kim, head of Aribio's U.S. office, Kim Kyung-rae, head of KDB's Abu Dhabi office, and officials from ADQ's business management team.
Aribio is developing treatments for neurodegenerative diseases, and AR1001 is currently progressing smoothly through Phase 3 clinical trials targeting Alzheimer's patients in 13 countries worldwide. Arcera develops, manufactures, and commercializes a variety of high-quality and innovative pharmaceuticals in major international markets, providing a portfolio of over 2,000 medicines to patients in 90 countries across four continents. ADQ was established to realize Abu Dhabi’s vision by fostering leadership in innovative and sustainable healthcare sectors and operates based on manufacturing and packaging facilities worldwide.
Jeong Jae-jun, CEO of Aribio, stated, “Through multilateral cooperation involving government policies, KDB’s support, and private sector research and development, South Korea is approaching success in global blockbuster new drugs. The two companies have already signed the term sheet for exclusive sales rights and are doing their best to promptly finalize the technology transfer agreement.”
Isabel Afonso, CEO of Arcera, emphasized, “The partnership with Aribio, which has an outstanding pipeline, perfectly aligns with Arcera’s global growth strategy focused especially on neuroscience. Through this collaboration, we are at the forefront of developing innovative treatments for Alzheimer's and neurodegenerative diseases, bringing new hope to patients.”
Sunil Billotra, Chief Investment Officer (CIO) of Arcera, said, “We will further advance our goal of providing groundbreaking healthcare solutions by investing capital and enhancing innovation capabilities through partnerships, licensing agreements, and mergers and acquisitions in collaboration with Aribio.”
This agreement between a Middle Eastern sovereign wealth fund pharmaceutical company and a Korean new drug developer is recognized as a milestone that strengthens the global competitiveness of domestic bio companies. An Aribio official stated, “It is significant that we have gained trust in the global new drug development project, recognized the strategic value of AR1001, and acknowledged the potential for long-term mutual growth.”
Meanwhile, Aribio is currently pursuing a merger with Solux, a company listed on KOSDAQ.
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