Ownership and exclusive development and commercialization rights for core pipelines TLY012, NLY01, and NLY12 transferred to the parent company
Transaction valued at approximately $3.31 million (approx. 4.4 billion won) with no ongoing royalties owed to the subsidiary
All major assets, including DD01, concentrated under DPD Pharmatech to streamline global partnering channels
DDD Pharmatech (347850) is bringing the patents and intellectual property (IP) rights of major new drug pipelines held by its US subsidiary, Neuraly, Inc., back to its headquarters. The move is designed to directly secure development and commercialization rights for three candidate substances—including the fibrosis treatment TLY012 and the neurodegenerative disease treatment NLY01—thereby centralizing drug development and global licensing strategies under the parent company.
DDD Pharmatech announced on the 2nd that it has signed an acquisition agreement with its wholly-owned US subsidiary, Neuraly, to transfer all patent ownership and IP rights related to its core pipelines.
The rights transfer covers three candidate substances: the fibrosis treatment 'TLY012', the neurodegenerative disease treatment 'peghebenatide (NLY01)', and the long-acting obesity and diabetes treatment 'NLY12'. As a result, DDD Pharmatech secures patent ownership and exclusive development and commercialization rights for these pipelines.
The total transaction value is $3,311,458, equivalent to approximately 4.4 billion won. Structured as an asset transfer agreement, the deal carries no obligation to pay separate running royalties to Neuraly during future development or commercialization phases.
Because this transaction is an internal deal between a parent company and its 100% subsidiary, there is no outflow of funds on a consolidated basis, the company explained, adding that the proceeds will be used as operating capital for Neuraly.
With this rights transfer, DDD Pharmatech plans to unify decision-making for the development and licensing of major drug candidates directly at its headquarters. By transferring the patents and IP previously held by Neuraly to the parent company, the entities holding development and commercialization rights will be integrated.
In particular, TLY012 is an early-stage clinical pipeline for which the company anticipates entering clinical trials by 2027. Through this transaction, DDD Pharmatech now directly holds the rights to key pipelines such as TLY012 and has simplified its decision-making structure for development and commercialization.
Combined with its existing proprietary pipeline for metabolic dysfunction-associated steatohepatitis (MASH), 'zabofoxgutide (DD01)', the rights to all major drug candidates are now concentrated in the parent company, integrating the overall pipeline management system.
This contract is an internal transaction transferring pipeline rights from an existing subsidiary to the parent company, rather than a new technology export to an external pharmaceutical firm.
Going forward, DDD Pharmatech will serve as the direct contracting party in external collaborations, including ongoing US clinical trials and global technology licensing (L/O) agreements. Should global licensing deals be finalized, the parent company will directly recognize related revenues, including upfront fees, development-stage milestones, and royalties.
For the ongoing investigator-initiated clinical trial of NLY01, the partnering entity is also set to change from Neuraly to DDD Pharmatech. However, the US subsidiary Neuraly will continue to perform US-based clinical research and development operations for the pipelines held by the parent company.
Through this business restructuring, the company aims to align the entities holding pipeline rights with those driving business execution, thereby accelerating decision-making in technology licensing and strategic cooperation with global pharmaceutical companies.
Lee Seul-ki, CEO of DDD Pharmatech, stated, "This acquisition agreement for the pipelines held by our subsidiary is a strategic decision to concentrate the business value of our key clinical pipelines around the parent company—a listed entity—and to align rights ownership with business execution, thereby further strengthening our momentum in clinical development and technology licensing."
She added, "Building on a unified decision-making structure, we will lead discussions on technology licensing and strategic partnerships with global pharma partners more swiftly and proactively."
