Cyron Therapeutics Signs $800M Technology Transfer Deal with Global Pharma Giant

Cyron Therapeutics has signed an exclusive licensing agreement with Novartis, a global Top 10 pharmaceutical company, for its innovative drug delivery platform technology. The deal is valued at $800 million, including an upfront payment of $100 million.

The core of this agreement is Cyron's patented 'Nanocarrier Drug Delivery System (NDS)' technology, which maximizes drug efficacy while minimizing side effects. This technology can be applied across various therapeutic areas including oncology, rare diseases, and central nervous system disorders.

Under the agreement terms, Novartis will have exclusive rights to develop new drugs using NDS technology for the next 10 years, with additional development milestones and sales royalties. Cyron Therapeutics plans to invest the secured funds in expanding its pipeline and developing new platform technologies.

Industry experts evaluate this deal as a global recognition of Korean biotech capabilities, expecting positive impacts across the domestic bio industry.