Bridge Biotherapeutics, a South Korean clinical-stage biotechnology company focused on developing novel drugs for fibrosis, inflammation, and cancer, announced that the company has signed an exclusive in-license agreement with Shaperon, a South Korean clinical-stage biotech company, for its GPCR19 (G protein-coupled receptor 19) agonist, coded "BBT-209", in order to develop a novel therapy for the treatment of idiopathic pulmonary fibrosis (IPF).

Shaperon, the originator, has identified that BBT-209, a first-in-class GPCR19 agonist, controls GPCR19-P2X7 expressions and downregulates component proteins of NLRP3 so that inflammation signaling networks can be significantly suppressed by the compound's mode of action.

Through IPF animal models, Bridge Biotherapeutics has confirmed that the drug candidate shows treatment efficacy through its robust anti-inflammatory activities. The company will utilize this data when developing monotherapy and/or combination therapy strategies.

By entering into the license agreement, Bridge will make an upfront payment of approximately USD 1.63 million (KRW 2 billion). The potential deal value equates to approximately USD 24.4 million (KRW 30 billion) including upfront, milestone, and royalty payments.

"We are highly excited to in-license BBT-209, which is known to be the first-in-class GPCR19 agonist for the treatment of idiopathic pulmonary fibrosis," said James Lee, CEO of Bridge Biotherapeutics. "By jointly working with Shaperon, our development team will make the best effort to ensure the rapid advancement for our novel drug candidate, along with the other pipeline assets under the company's IPF franchise," James added.

"We hope that BBT-209 will become a breakthrough therapy for patients with IPF, who are currently lacking treatment options" and "We will accelerate the development of innovative treatments, to help improve the quality of life for patients suffering from rare diseases, such as IPF, through our partnership with Bridge Biotherapeutics, which has a proven track record in both global drug development and business development," said Seung-Yong Seong, M.D., Ph.D., and Myung-Sea Lee M.D., M.B.A., co-CEOs of Shaperon.