Finland's Faron licenses Traumakine Korean rights to Pharmbio

14 June 2016

Finnish biopharma company Faron has entered into a licensing agreement with Pharmbio Korea for the development and commercialization of Traumakine (recombinant interferon beta-1a), it has been announced.

Traumakine, for the treatment of acute respiratory distress syndrome (ARDS), is Faron’s lead drug and is currently in the pivotal pan-European Phase III INTEREST trial.

Under the terms of the agreement Pharmbio will obtain exclusive Korean rights to Traumakine. Faron will receive an initial signing fee of 750,000 euros ($847,500) and additional, undisclosed development based milestones.

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