Ocugen Inks $161M+ Gene Therapy Deal for Korean Market
Agreement with Kwangdong Pharmaceutical for OCU400 includes $7.5M in upfront payments and a 25% royalty on sales.
Ocugen, Inc. (NASDAQ: OCGN), a US-based biotechnology company, has finalized a significant licensing agreement with Kwangdong Pharmaceutical Co., Ltd. to develop and commercialize its OCU400 gene therapy in South Korea. The deal, which grants Kwangdong exclusive rights in the country, has a for Ocugen through a combination of upfront payments, milestones, and royalties.
Under the terms of the agreement, Ocugen will receive up to $7.5 million in upfront and near-term development milestone payments. The financial structure is further bolstered by a substantial 25% royalty on net sales of OCU400 in Korea and sales milestones that could generate over $180 million within the first decade of commercialization. This infusion of non-dilutive capital is a strategic win for Ocugen, supporting the continued development of its clinical pipeline.
OCU400 is a novel modifier gene therapy being developed to treat retinitis pigmentosa (RP), a group of rare genetic disorders that involve a breakdown and loss of cells in the retina. The therapy, which is , aims to address the condition regardless of the specific gene mutation, potentially offering a broad treatment option for the estimated 7,000 individuals affected by RP in South Korea.
This partnership represents a key step in Ocugen's global expansion strategy, leveraging Kwangdong's established network and expertise in the South Korean pharmaceutical market. According to the , Ocugen will remain responsible for the manufacturing and commercial supply of OCU400. The company is targeting a Biologics License Application (BLA) filing with regulators in mid-2026, marking a critical upcoming milestone for the therapy's path to market.