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Ocugen Shares Surge 12% on South Korean Licensing Deal for Eye Disorder Treatment
Ocugen Shares Surge 12% on South Korean Licensing Deal for Eye Disorder Treatment
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BTCCSquare news:
Ocugen's stock soared 12% Monday, dramatically outpacing the S&P 500's modest gains, after announcing a licensing agreement with Kwangdong Pharmaceutical for its retinal disease treatment OCU400. The deal grants Kwangdong exclusive South Korean rights to the retinitis pigmentosa therapy, with Ocugen receiving up to $7.5 million in upfront and milestone payments.
The biotech stands to earn $1.5 million for every $15 million in sales, projecting potential revenues exceeding $180 million over a decade. With 25% royalty rights on net South Korean sales and approximately 7,000 RP patients in the market, the agreement signals Ocugen's strategic expansion into Asia's pharmaceutical sector.
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