Daewoong Pharmaceutical Acquires Licensor Status for mRNA-based ERA Platform
Daewoong Pharmaceutical's subsidiary acquires licensor status for Turn Bio's mRNA-based ERA platform for up to USD 239M (upfront $1M, milestones $238M, royalties separate).
It succeeds the rights and obligations of the original joint development and license agreement with Hanall Biopharma, securing rights to receive milestones and royalties from Hanall.
The acquisition was won as the highest bidder in a live auction on May 6, 2026 in the US; final succession agreement expected by end of May.
This is a conditional contract; revenue recognition depends on clinical and regulatory success; contract may terminate if development stops.
Contract effective upon conditions being met; termination date is later of 10 years after first commercial sale, patent expiry, or exclusivity expiry.
KOSPI Filing Information
Filing: Major Management Matters Related to Investment Decision (Major Management Matters of Subsidiary) (Succession of Technology Transfer Agreement Status for mRNA-based Epigenetic Reprogramming of Aging (ERA))