Many of the major pharmaceutical companies are now facing the problems such as insufficient supply of New drug candidates and continuous increase in the cost for new drug development. Thus, they are seeking for promising pipelines with new technology and novel development programs from innovative venture companies.
Our business model is to conclude the alliance with major pharmaceutical companies by licensing of our products, to obtain upfront payments (license fees), milestone payments with the progress of drug development and royalty payments after the launch.
Licensing of the Programs
We have various programs awaited for the licensing out for the major pharmaceutical companies. We have multiple licensing plans readied from early preclinical stage to clinical stage depending on the nature of each pipeline.
For example, our anti-ILT7 antibody program for treatment of autoimmune diseases is aimed for targeting of dendritic cells to modulate immune system based on the unique target molecule. We successfully licensed out our anti-ILT7 antibody project at the preclinical stage to MedImmune of based on its novelty and superiority in patent strength. MedImmune is currently performing the preclinical experiments to obtain data for further clinical development. We are expecting to receive milestone payments at various development stages.
In summary, we basically take a business strategy of early licensing at various stages of products in our drug development program allowing dispersion of risks.