Singapore, April 10 -- Gan & Lee Pharmaceuticals has announced the signing of an exclusive licensing agreement with JW Pharmaceutical, a leading pharmaceutical company in South Korea.

Under the agreement, the two parties will collaborate on the clinical development, regulatory filing, and commercialization in South Korea of Bofanglutide Injection, a bi-weekly (once every two weeks) Glucagon-Like Peptide-1 Receptor Agonist (GLP-1RA) independently discovered and developed by Gan & Lee.

JW Pharmaceutical will be granted the exclusive rights to develop and commercialize Bofanglutide Injection in South Korea. Gan & Lee Pharmaceuticals will receive a one-time, non-refundable upfront payment of $5 million.

Additionally, Gan & Lee is eligible ...