SK biopharma in licensing deal with China's Medicilon for depression/bipolar drug candidate

South Korean biotech firm SK biopharmaceuticals says it has entered into an R&D agreement with Medicilon, a drug development company based in Shanghai, China, for the latter’s novel new small molecule SKL-PSY that is being developed for the treatment of depression and bipolar disorder. Financial terms of the accord were not disclosed.

Unlike currently-marketed antidepressants that can require two to four weeks to become effective, SKL-PSY has a relatively quick onset of therapeutic effects in animal models of depressive and manic states. The molecule is expected to be effective for both; such dual-action can be problematic for currently-marketed antidepressants or other drugs for the treatment of bipolar disorder.

The combined current market size for antidepressants and treatments for bipolar disorder is estimated to be $39 billion annually, according to SK biopharma, a newly-independent biotech as of April this year, having been spun out from SK Holdings, the third-largest conglomerate in South Korea.