NeuroVive and Yungjin to collaborate in genetic mitochondrial disorders
Swedish mitochondrial medicine firm NeuroVive Pharmaceutical (Nasdaq OMX: NVP) and Yungjin Pharm (KRX: 003520) have entered into a global licensing agreement to develop KL1333 for genetic disorders.
Yungjin, a South Korean firm, is developing the drug to treat orphan mitochondrial conditions. The company has received approval to commence a clinical study which will begin in the coming months.
Yungjin Pharm has granted NeuroVive exclusive global rights to develop and commercialize KL1333 worldwide, except for Korea and Japan, where Yungjin Pharm retains all commercial and marketing rights.
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