Market Overview

JW Pharmaceutical signs global out-licensing agreement for their novel atopic dermatitis drug candidate, JW1601, with LEO Pharma, a global leader in medical dermatology

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  • JW Pharmaceutical will receive upfront and milestone payments of up
    to USD 402 million. Apart from such milestone payments, a royalty will
    be awarded.
  • LEO Pharma will obtain exclusive rights to develop and
    commercialize JW1601 in the global market excluding Korea.
  • JW1601 is a novel atopic dermatitis drug candidate intended for
    oral treatment of atopic dermatitis which is expected to maximize
    efficacy by dual action of anti-pruritus (anti-itch) and
    anti-inflammation and minimize adverse events by high selectivity on
    the target.
  • It is expected to lead the histamine H4 targeting market as the
    best-in-class drug.

JW Pharmaceutical ("JWP") and LEO Pharma A/S ("LEO Pharma") announced
today, that they have signed a global licensing agreement for JWP's
novel atopic dermatitis drug candidate, JW1601, under which, LEO Pharma,
a global leader in medical dermatology, will gain the exclusive rights
to develop and commercialize JW1601 globally excluding Korea where JWP
will maintain its exclusivity. JWP will receive US$ 17 million as
upfront fee and stepwise development and sales milestone in sum of up to
US$ 385 million. Therefore, JWP will receive a total of up to US$ 402
million which is equivalent to 450 billion KRW. Apart from the milestone
payments, JWP will receive up to two-digit royalty based on the net
sales.

JW1601 is an innovative new drug candidate developed by C&C Research
Laboratories, a research and development company which is one of the
affiliates of JWP. In May 2017, JWP acquired the global exclusive rights
to develop and commercialize JW1601 and plans to submit IND for Phase 1
clinical trial within this year.

JW1601 has a dual mechanism of action that blocks the activation and
migration of the immune cells that cause atopic dermatitis by
selectively acting on the histamine H4 receptor and inhibiting the
histamine signaling that causes itching. The drug is expected to show
good efficacy because it has both anti-pruritic (anti-itch) and
anti-inflammatory effect whereas the competing substances only show the
efficacy in anti-inflammatory. Also, it is expected to demonstrate a
good safety profile due to its high selectivity towards H4 receptor.

"We see a high unmet need for safe and effective oral treatments for
people suffering from atopic dermatitis. It is therefore with great
excitement that we partner with JW Pharmaceutical on their novel oral
atopic dermatitis drug candidate, JW1601. At LEO Pharma, we continuously
seek to expand our pipeline with new innovative solutions with the
ultimate aim of bringing real life-changing medicines to the many
patients we serve. This compound is a perfect fit with our existing
biologics currently in phase III (Tralokinumab) and phase I (LP0145) and
our topical Delgocitinib currently in phase II," said Kim Kjoeller,
Executive Vice President, Global R&D, LEO Pharma.

Kyoung June Lee, Executive Vice President, Chief of Drug Discovery
Center commented that "We find it very positive that LEO Pharma, a
global leader in medical dermatology, recognizes the value of JW1601. We
have confidence in successful development and global commercialization
of JW1601 and we see LEO Pharma as the right partner for this project.
JWP will do our best so that the other innovative new drug candidates
under development at JWP also can show tangible result."

-The End-

ABOUT JW PHARMACEUTICAL CORPORATION

JW Pharmaceutical Corporation has been leading Korean medicine and
medical supplies market over its 70 years of history. The company
focuses on the field of research and development of anti-cancer drug and
etc.; manufacture and sales of hospital fluid, antibiotic and other
ethical pharmaceuticals.

JW Pharmaceutical Corporation was founded in 1945, and is listed on the
Korea Exchange Market under the symbol "001060 ".

More information is available at http://www.jw-pharma.co.kr/pharma/en/main.jsp.

ABOUT LEO PHARMA

LEO Pharma helps people achieve healthy skin. By offering care solutions
to patients in more than 130 countries globally, LEO Pharma supports
people in managing their skin conditions. Founded in 1908 and owned by
the LEO Foundation, the healthcare company has devoted decades of
research and development to delivering products and solutions to people
with skin conditions. LEO Pharma is headquartered in Denmark and employs
around 5,200 people worldwide. For more information, visit www.leo-pharma.com
or follow us on LinkedIn: www.linkedin.com/company/leo-pharma.

ABOUT JW1601

JW1601 is an orally available histamine H4 receptor inverse agonist with
anti-pruritic and anti-inflammatory dual effect. It shows
anti-chemotactic activity in eosinophil shape change and therapeutic
effect in spontaneous NC/Nga AD model. JW1601 is currently conducting
pre-clinical toxicity study and looking for phase 1 IND submission in
2018 in Korea.

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