LISCure Biosciences Announces Know-How License Agreement and Stock Purchase Agreement with Mayo Clinic

News provided by

Aug 01, 2021, 23:11 ET

SEOUL, South Korea, Aug. 1, 2021 /PRNewswire/ -- LISCure Biosciences, Inc. ("LISCure") has entered into a know-how license and development collaboration agreement, and stock purchase agreement with Mayo Clinic to advance LISCure's microbiome therapeutics in non-alcoholic steatohepatitis (NASH).

The two entities previously entered a research collaboration agreement in the first half of 2021 for NASH candidates.

Under the agreement, the company will receive Mayo Clinic's know-how to establish a new drug development of NASH program. As part of the agreement, Mayo Clinic will become a shareholder in LISCure, the first Korean biotech company receiving equity investment from Mayo Clinic.

The two entities will pursue the common goal of maximizing the value of LISCure's therapeutics in metabolic diseases by expanding research and development activities such as discovering new indications and additional value-added candidates. LISCure plans to minimize trial and error in preparation for phase 2 clinical trial of its NASH candidate in the US in 2022 by jointly cooperating with Mayo Clinic.

"This collaboration will provide innovative treatment opportunities to patients with high medical needs in various metabolic diseases. We are very excited to establish a collaboration with Mayo Clinic," said a company official. "We are also proud of Mayo Clinic becoming our shareholder and look forward to continuing a long-term collaboration."

LISCure plans to enter the global clinical trial for NASH candidate as well as auto-immune disease candidate in the second half of this year, and to initiate clinical trial in the US for the world's first novel microbe-mediated cancer therapeutics in the first half of 2022.

About LISCure Biosciences

LISCure was established in 2018 for the purpose of research and development of single microbial-based immunotherapy. The main focused areas are immuno-oncology, neurological diseases, autoimmune diseases, and metabolic diseases. It develops new drugs to treat patients as either monotherapy or combination therapy for major indications.

SOURCE LISCure Biosciences Inc.