Ocugen Signs Binding Agreement For Licensing Of OCU400 For In Korea

(RTTNews) - Ocugen, Inc. (OCGN), Thursday announced the signing of a binding term sheet for licensing OCU400, the company's novel modifier gene therapy for retinitis pigmentosa, to a leading company in the pharmaceutical and healthcare sector in Korea.

As per the terms of the deal, Ocugen will receive upfront license fees and near-term development milestones of upto $11 million. Additionally, the company will be entitled to sales milestones of $1 million for every $15 million of net sales in Korea in addition to a royalty of 25 percent on net sales of OCU400 generated by the Korean company.

The company expects the agreement to leverage its network in the country with the help of its partner company, and help as many retinitis pigmentosa patients as possible.

Notably, the biotechnology company is advancing OCU400 through Phase 3 clinical development with a target Biologics License Application filing of mid-2026.

In the pre-market hours, OCGN is trading at $0.92, up 4.11 percent on the Nasdaq.