Termination of Bridge Biotherapeutics's Collaboration and License Agreement with Boehringer Ingelheim

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Nov 09, 2020, 05:07 ET

SEONGNAM, South Korea, Nov. 9, 2020 /PRNewswire/ -- On November 9, 2020, Bridge Biotherapeutics (288330 KQ) reported to the Korea Stock Exchange that the Company and Boehringer Ingelheim have mutually agreed on the termination of the Collaboration and License Agreement entered into in July 2019 to develop BBT-877 for the treatment of idiopathic pulmonary fibrosis and various fibrotic diseases.

Under the License Agreement, Bridge Biotherapeutics will regain all rights to BBT-877.

"Bridge Biotherapeutics is committed to further develop BBT-877 to benefit patients with IPF, whom we want to serve. After receiving and reviewing data and dossiers, we will closely work with regulatory authorities to clarify future development plan and necessary studies to initiate human trials in the future" said James Lee, CEO of Bridge Biotherapeutics, Inc.

About Bridge Biotherapeutics

Bridge Biotherapeutics Inc., based in Republic of Korea, US and China, is a publicly-traded clinical stage biotech company founded in 2015. Bridge Biotherapeutics is engaged in the discovery and development of novel therapeutics, focusing on therapeutic areas with high-unmet needs such as ulcerative colitis, fibrotic diseases and cancers. Besides BBT-877, the Company is developing BBT-401, the first-in-class Pellino-1 inhibitor for treatment of ulcerative colitis currently in Phase II in USA, and BBT-176, a potent targeted cancer therapy for non-small cell lung cancer (NSCLC) with C797S EGFR mutations.

SOURCE Bridge Biotherapeutics, Inc.