SK Biopharmaceuticals has secured exclusive global rights to a preclinical Parkinson’s disease drug candidate through a licensing and equity agreement with 1ST Biotherapeutics. Announced on September 17, this is the first asset acquisition led by the company’s Open Innovation Center and reflects its ongoing effort to bring Asian-developed therapies to a wider market.
The deal includes an upfront payment of KRW 2.5 billion (about USD 1.8 million), with potential milestone payments up to KRW 72.5 billion tied to research, development, and commercialization. If the drug reaches commercial success, additional sales-based milestones could total USD 260 million, bringing the overall deal value to around KRW 430.8 billion. Royalties on net product sales are also part of the agreement, and SK Biopharmaceuticals will make a separate KRW 3 billion strategic investment in 1ST Biotherapeutics.
The 1ST-104 candidate is designed as a dual inhibitor targeting both LRRK2 and c-Abl, aiming to modify the course of Parkinson's disease rather than just alleviate symptoms.
The candidate is an oral small-molecule inhibitor that targets both LRRK2 and c-Abl. It is intended as a disease-modifying therapy for Parkinson’s, a field where most treatments only address symptoms. By acting on endolysosome dysfunction and alpha-synuclein accumulation, the dual-inhibition approach aims to address the underlying pathology of Parkinson’s, which continues to affect motor function in millions of people.
1ST Biotherapeutics will oversee preclinical candidate selection, while SK Biopharmaceuticals will decide on further development steps, including studies for an investigational new drug (IND) application. The agreement is a calculated move on a mechanism that could shift the focus from symptom management to disease modification in Parkinson’s. Current therapies do little to slow progression, leaving patients and clinicians with limited options.
According to a BioWorld industry analysis, the 1ST-104 candidate stands out for its dual-target approach, which is uncommon among current preclinical assets in the Parkinson's pipeline. This mechanism is intended to address both genetic and non-genetic forms of the disease, potentially broadening its reach among patients.
Industry reports highlight that this is the first asset acquisition initiated by SK Biopharmaceuticals' Open Innovation Center, reflecting a broader strategy to expand its CNS and neurodegeneration portfolio through external innovation.
Fierce Biotech
This partnership is a clear example of SK Biopharmaceuticals’ 'East-West Bridge' strategy. By using its Open Innovation Center to identify and validate promising Asian drug candidates, the company aims to combine regional discovery with global development and commercialization. Recent initiatives include a partnership with Seoul Biohub and an AI-driven drug discovery project with Insilico Medicine. The 1ST Biotherapeutics deal is the first to bring a preclinical-stage asset into SK Biopharmaceuticals’ central nervous system pipeline, showing the company’s willingness to invest early in external innovation.
Leaders from both companies see potential in the collaboration. Jamie Jae Eun Kim, CEO of 1ST Biotherapeutics, described the agreement as significant for combining early-stage discovery with global development expertise. Lee Dong-hoon, CEO and President of SK Biopharmaceuticals, called the deal an example of the company’s open innovation model, with plans to "enhance candidate value and explore their potential as next-generation disease-modifying therapies."
With this deal, SK Biopharmaceuticals is expanding its central nervous system pipeline and betting that Asian biotech innovation, combined with global execution, can deliver new therapies for neurodegenerative disease. The company’s decision to invest at the preclinical stage and structure deals around both scientific and commercial milestones sets a new standard for cross-border biotech partnerships. If the dual-inhibition candidate proves effective, it could help shift the industry’s approach to Parkinson’s disease from symptom management to disease modification.
