SK biopharm licenses out epilepsy drug to Hikma MENA FZE

SK biopharmaceuticals Co.’s epilepsy drug Cenobamate [Courtesy of SK biopharmaceuticals]

South Korea’s SK biopharmaceuticals Co. announced on Friday that it has signed an agreement to license out its epilepsy drug Cenobamate to Hikma MENA FZE, a Middle Eastern affiliate of global pharmaceutical Hikma Pharmaceutical Plc.

Under the agreement, SK biopharm will grant a license for the commercialization of Cenobamate to Hikma MENA FZE, covering sales rights across 16 Middle Eastern and North African (MENA) countries. In return for this arrangement, SK biopharm will receive $3 million in upfront payments along with future sales royalties.

The epilepsy care industry in the MENA region is estimated at $442 million, SK biopharm said.

The two companies also signed a strategic partnership that gives Hikma priority negotiating rights for future products launched by SK biopharm in the MENA region.

In addition to the Cenobamate-related payments, SK biopharm will receive an upfront payment of $20 million for the partnership.

SK biopharm plans to use the funds newly obtained through the contracts to seek opportunities for inorganic growth and R&D approaches. Inorganic growth refers to a business strategy focusing on mergers and acquisitions or stake investment to gain business momentum.

“We view the recent collaboration with Hikma as a strategic stepping stone toward fortifying our enduring market leadership within the MENA region,” said Lee Dong-Hoon Lee, chief executive officer of SK biopharmaceuticals.

SK biopharm’s Cenobamate is a drug used to control partial-onset seizures in the treatment of epilepsy. The drug has been approved for use in North America, Europe, and Asia.