Ocugen has executed a licensing agreement with Kwangdong Pharmaceutical for the exclusive Korean rights to OCU400—Ocugen’s novel modifier gene therapy for Retinitis Pigmentosa (RP).

Pursuant to the licence agreement, Ocugen will receive upfront license fees and near-term development milestones equaling up to USD 7.5 million. The company will be entitled to sales milestones of USD 1.5 million for every USD 15 million of sales in Korea, projected to reach USD 180 million or more in the first 10 years of commercialisation. Additionally, Ocugen will receive a royalty of 25 percent on net sales of OCU400 generated by Kwangdong. Ocugen will manufacture the commercial supply of OCU400 under terms of a supply agreement.

“We are excited to partner with Kwangdong as our first regional partner in the development and commercialisation of our modifier gene therapies across the globe. OCU400 is a potential one-time therapy for life to treat RP and upon local regulatory approval, patients in Korea with this devastating condition will be able to access OCU400 through Kwangdong,” said Dr Shankar Musunuri, Chairman, CEO and Co-founder, Ocugen.

There are an estimated 7,000 individuals in the Republic of Korea with RP, which represents approximately seven percent of the US market.

SungWon Choi, CEO and Chairman, Kwangdong, said, “Kwangdong is excited to have the opportunity to provide a new treatment option to Korean patients suffering from RP and the healthcare professionals treating them. From the company’s perspective, this deal with Ocugen is especially meaningful as it allows us to further strengthen our ophthalmology portfolio, alongside our existing pipeline for presbyopia and paediatric myopia. Once the ongoing clinical trial of OCU400 is completed, Kwangdong will make every effort to bring the product to the Korean market as quickly as possible.”

Ocugen is currently advancing OCU400 through phase-III clinical development with a target US Biologics Licence Application (BLA) filing in 2026.