HK inno.N Acquires Japanese Business Rights for K-CAB and Equity Stake in RaQualia
HK inno.N Acquires Japanese Business
Rights for K-CAB and Equity Stake in RaQualia
- HK inno.N acquires Japanese business rights for K-CAB from RaQualia, a Japanese drug discovery firm.
- The company secures global business rights for K-CAB in top
markets, including Japan (the world’s 3rd largest), following successful
entries into China and the U.S.
- HK inno.N acquires additional newly issued shares in
RaQualia, increasing its total equity stake to 15.95% and accelerating new drug
development.
Photo. Left: HK inno.N BI _ Right: RaQualia CI
HK inno.N announced on December 15th that it signed an
agreement to acquire the Japanese business rights for K-CAB (active ingredient:
tegoprazan), a novel treatment for gastroesophageal reflux disease (GERD), from
RaQualia Pharma Inc., a Japanese drug discovery firm. The agreement also
includes the acquisition of additional newly issued shares of RaQualia through
a third-party allotment paid-in capital increase.
Through this agreement, HK inno.N secures the development,
manufacturing, and sales rights for K-CAB in the Japanese market. Additionally,
by acquiring 1,555,900 shares of RaQualia, the company increased its equity
stake by 5.98%..
This marks the second acquisition following the first acquisition of newly
issued shares in March this year, and HK inno.N now holds a total of 15.95%
stake as the largest shareholder of RaQualia.
RaQualia, founded in 2008 by former researchers from Pfizer
Japan, licensed the K-CAB compound, a novel treatment for gastroesophageal
reflux disease (GERD), to HK inno.N in 2010. . The
company currently
holds a diversified pipeline for 18 drug candidates, spanning therapeutic areas
such as gastrointestinal disorders, pain, and oncology.
With this agreement, HK inno.N has successfully secured the business rights for
K-CAB in the world’s first,t second, and third
largest pharmaceutical markets—the U.S., China, and Japan—further raising
expectations for its global growth. The peptic ulcer medications market in Japan is
worth approximately KRW 2 trillion (USD 1,227 million), making it the world's
third-largest market. While K-CAB is not currently marketed in Japan, this agreement paves the way for its market entry.
“This agreement will enhance our innovative new drug
portfolio by combining the R&D capabilities of both companies, further
boosting the global market competitiveness of K-CAB,” said Dalwon Kwak, CEO of
HK inno.N.. “Through
our strategic partnership with RaQualia, we will conduct joint research on
additional new drug pipelines, thus solidifying our standing in the global
pharmaceutical market,” he added.
K-CAB, a novel agent for GERD treatment, is the 30th new drug of South Korea developed by HK
inno.N. Following its first launch in South Korea in March 2019, K-CAB recorded the cumulative outpatient
prescription sales amounting to KRW 902.2 billion up to November this year. The drug has been licensed or distributed to 54 countries,
including China and the U.S. (the figure includes South Korea), and has been
officially launched in 18 countries to date. (The end)
(Reference Information)
Size of the peptic ulcer medications market in
Japan: USD 1,227 million (based on the exchange rate 1,460 won/dollar) (source:
IQVIA 2024 MAT)