By: IPP Bureau
Last updated : September 17, 2026 2:19 pm
Global licensing deal valued at up to $314.8 million, alongside $2.2 million strategic equity investment
1ST Biotherapeutics and SK Biopharmaceuticals have entered into an exclusive global licensing agreement and strategic equity investment partnership to advance 1ST-104, an investigational oral small-molecule candidate for the treatment of Parkinson’s disease.
Under the agreement, 1ST Biotherapeutics will receive an upfront payment of $1.8 million. The licensing arrangement is valued at up to $314.8 million, including a short-term milestone payment of $1.8 million upon candidate selection and additional development and other milestones. The company will also be eligible for tiered royalties based on global net sales following commercialisation.
Separately, SK Biopharmaceuticals has made a strategic equity investment of $2.2 million in 1ST Biotherapeutics to support a long-term partnership between the two companies.
1ST-104 is being developed as an oral treatment using a dual-inhibition strategy targeting LRRK2 and c-Abl. LRRK2 is considered a therapeutic target directly associated with the pathogenesis of Parkinson’s disease. However, development of certain Type 1 LRRK2 inhibitors has faced challenges, including pulmonary findings reported in preclinical studies.
1ST Biotherapeutics has developed 1ST-104 as a next-generation Type 2 LRRK2 inhibitor intended to address some of these limitations. The candidate uses a Type 2 binding mode and has demonstrated target selectivity and blood-brain barrier permeability in preclinical studies, according to the companies.
“This agreement serves as a strong validation of 1ST Biotherapeutics' proprietary discovery capabilities in next-generation target identification and lead optimisation,” said Jamie Jae Eun Kim, CEO of 1ST Biotherapeutics.
Donghoon Lee, CEO of SK Biopharmaceuticals, said the collaboration combines 1ST Biotherapeutics’ early-stage discovery capabilities with SK Biopharmaceuticals’ clinical development and commercialisation expertise.
“We will work to translate this candidate into successful clinical development, opening up new possibilities for the treatment of Parkinson's disease,” Lee added.