[Edaily Reporter Shin Ha-yeon] #FutureChem announced on the 4th that it has signed a termination agreement regarding the joint development and technology transfer contract for the prostate cancer diagnostic radiopharmaceutical "FC303" that it had previously entered into with Curium Austria (formerly IASON GmbH), based in Austria.
The company had previously signed a technology transfer agreement for FC303 with IASON in 2020. Subsequently, in 2021, Curium, a global radiopharmaceutical company, acquired IASON, resulting in the contract counterparty being changed to Curium Austria.
FutureChem explained that even after the termination of this agreement, it is not required to return the milestone payments of 615,672 euros (approximately 970 million won) already received. It also stated that it will not receive any separate signing fee.
The company explained that it determined the launch date would be significantly delayed due to the European clinical trial falling behind the original schedule, and that it reached a final agreement with Curium after negotiating the terms of contract termination, including the return of rights.
However, as part of the contract termination and rights return conditions, FutureChem agreed to bear the costs related to the FC303 clinical trial, amounting to 1,659,933 euros (approximately 2.6 billion won).
The company had previously signed a technology transfer agreement for FC303 with IASON in 2020. Subsequently, in 2021, Curium, a global radiopharmaceutical company, acquired IASON, resulting in the contract counterparty being changed to Curium Austria.
FutureChem explained that even after the termination of this agreement, it is not required to return the milestone payments of 615,672 euros (approximately 970 million won) already received. It also stated that it will not receive any separate signing fee.
The company explained that it determined the launch date would be significantly delayed due to the European clinical trial falling behind the original schedule, and that it reached a final agreement with Curium after negotiating the terms of contract termination, including the return of rights.
However, as part of the contract termination and rights return conditions, FutureChem agreed to bear the costs related to the FC303 clinical trial, amounting to 1,659,933 euros (approximately 2.6 billion won).
